Texas Business Organizations Code 21.054 – Adoption of Amendment by Shareholders
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Terms Used In Texas Business Organizations Code 21.054
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
If a corporation has issued and outstanding shares:
(1) a resolution described by § 21.052 must also direct that the proposed amendment be submitted to a vote of the shareholders at a meeting; and
(2) the shareholders must approve the proposed amendment in the manner provided by § 21.055.