Legislative Update 2003: Changes Involving Texas Business Organizations Statutes

Topics:
Commercial Litigation
Tags:
Business Organization,
Business Structures,
Finance,
Jenkens & Gilchrist,
Statute,
Texas
Source:
Jenkens & Gilchrist

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Overview: The 78th Texas Legislature passed many bills affecting business law and business organizations during its regular session in 2003. The following discussion summarizes the primary bills that were passed in the 2003 Texas Legislature relating to business organizations. As a caveat, other bills may exist that affect business organizations or are of interest to business lawyers. Three bills adopted by the 78th Texas Legislature are summarized in this paper. House Bill 1165 amends existing Texas statutes governing business corporations. House Bill 1637 amends existing Texas statutes governing general and limited partnerships and limited liability companies. House Bill 1156 adopts a new Texas Business Organizations Code (the "Code"), which totally reorganizes, simplifies, and modernizes existing Texas statutes governing private sector, for-profit and nonprofit entities.

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Format: PDF | Size: 696KB | Date: Jan 2003 | Pages: 53

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