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Terms Used In Texas Utilities Code 162.079

  • 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.

Article 2.22A, Texas Non-Profit Corporation Act (Article 1396-2.22A, Vernon’s Texas Civil Statutes), applies to a telephone cooperative in the same manner as if the cooperative were formed under the Texas Non-Profit Corporation Act.