122.011 – AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS.
Texas Finance Code § 122.011
Summary
This law outlines the process for a board of directors to amend the articles of incorporation or bylaws of a corporation. Amendments require a two-thirds vote from directors present at a quorum meeting and must be submitted to the commissioner for approval.
Requires a two-thirds vote from directors for amendments.
Amendments must be submitted to the commissioner.
Commissioner must approve non-standard amendments in writing.
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In simple terms: Learn about Texas's AMENDMENT OF ARTICLES OF INCORPORATION OR BYLAWS. law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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