Texas Special District Local Laws Code 8803.153 – Board, Directors, and Members Approval of Merger Agreement
Current as of: 2024 | Check for updates
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Terms Used In Texas Special District Local Laws Code 8803.153
- 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.
Before an election to confirm a proposed merger agreement described by § 8803.152 may be held, the board, the directors, and, if the water supply or sewer service corporation has members with voting rights, the members of the corporation must each approve the proposed merger agreement in accordance with the laws, rules, charter, bylaws, and procedures applicable to the district and the corporation.