Texas § IN.823.151 - PRESUMPTION OF CONTROL
Full text of Texas The Texas Constitution § IN.823.151 — PRESUMPTION OF CONTROL, with citation guidance and answers to common questions.
§ IN.823.151. PRESUMPTION OF CONTROL
PRESUMPTION OF CONTROL. (a) Control of an entity is presumed if: (1) a person or a person and members of the person's immediate family, directly or indirectly, own, control, or hold with the power to vote 10 percent or more of the voting securities or authority of the entity; or (2) a person who is not a corporate officer or director of the entity holds proxies representing 10 percent or more of the voting securities or authority of the entity. (b) Control of a Lloyd's plan is presumed if a person is designated as an attorney-in-fact for the insurer under Chapter 941 . (c) Control of a reciprocal or interinsurance exchange is presumed if a person is designated as an attorney-in-fact for the exchange under Chapter 942 . (d) A presumption under this section may be rebutted by a showing made in the manner provided by Section 823.010 that control does not exist in fact and that the person rebutting the presumption is complying with Sections 823. 154, 823.155 , 823.159 , and 823.160 . (e) For purposes of this section, the members of a person's immediate family are: (1) the person's spouse, father, mother, children, brothers, sisters, and grandchildren; (2) the father, mother, brothers, and sisters of the person's spouse; and (3) the spouse of the person's child, brother, sister, mother, father, or grandparent. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § IN.823.151
What does The Texas Constitution § IN.823.151 cover?
Section IN.823.151 ("PRESUMPTION OF CONTROL") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.823.151?
A common citation format is "The Texas Constitution § IN.823.151" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.823.151 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.