Texas Local Government Code 501.064 – Bylaws
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(a) A corporation may adopt and amend bylaws for the administration and regulation of the corporation’s affairs.
(b) The board of directors shall adopt a corporation’s initial bylaws.
Terms Used In Texas Local Government Code 501.064
- 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.
- 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.
(c) The bylaws and each amendment of the bylaws must:
(1) be consistent with state law and with the certificate of formation of the corporation; and
(2) be approved by resolution of the governing body of the corporation’s authorizing unit.