Texas Transportation Code 431.030 – Bylaws
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(a) The board shall adopt the initial bylaws of a corporation. The commission, by resolution, must approve the initial bylaws.
(b) A corporation may change its bylaws only with the approval of the commission.
Terms Used In Texas Transportation Code 431.030
- 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.