Texas Transportation Code 431.006 – Application of Texas Non-Profit Corporation Act
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Terms Used In Texas Transportation Code 431.006
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon’s Texas Civil Statutes) applies to a corporation to the extent that the provisions of that Act are not inconsistent with this chapter.