Texas § BO.2.007 - ADDITIONAL PROHIBITED ACTIVITIES OF FOR-PROFIT CORPORATION

§ BO.2.007. ADDITIONAL PROHIBITED ACTIVITIES OF FOR-PROFIT CORPORATION

ADDITIONAL PROHIBITED ACTIVITIES OF FOR-PROFIT CORPORATION. A for-profit corporation may not: (1) operate a cooperative association, limited cooperative association, or labor union; (2) transact a combination of the businesses of: (A) raising cattle and owning land for the raising of cattle, other than operating and owning feedlots and feeding cattle; and (B) operating stockyards and slaughtering, refrigerating, canning, curing, or packing meat; (3) engage in a combination of: (A) the petroleum oil producing business in this state; and (B) the oil pipeline business in this state other than through stock ownership in a for-profit corporation engaged in the oil pipeline business and other than the ownership or operation of private pipelines in and about the corporation's refineries, fields, or stations; or (4) engage in a business or activity that may not be engaged in by a for-profit corporation without first obtaining a license under the laws of this state and a license to engage in that business or activity cannot lawfully be granted to the corporation. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737 ), Sec. 5, eff. September 1, 2007.