Texas Finance Code 275.053 – Contents of Articles of Incorporation
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Terms Used In Texas Finance Code 275.053
- 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.
- Fiduciary: A trustee, executor, or administrator.
In addition to the information required by the general corporation laws, the articles of incorporation shall state:
(1) the name of each fiduciary institution causing the corporation to be incorporated; and
(2) the amount of stock originally subscribed for by each fiduciary institution.