Texas § BO.21.718 - STATEMENT OF OPERATION AS CLOSE CORPORATION
Full text of Texas The Texas Constitution § BO.21.718 — STATEMENT OF OPERATION AS CLOSE CORPORATION, with citation guidance and answers to common questions.
§ BO.21.718. STATEMENT OF OPERATION AS CLOSE CORPORATION
STATEMENT OF OPERATION AS CLOSE CORPORATION. (a) On or after the formation of a close corporation or adoption of close corporation status, a close corporation that begins to conduct its business and affairs under a shareholders' agreement that has become effective shall promptly execute and file with the secretary of state a statement of operation as a close corporation in accordance with Chapter 4 . (b) The statement required by Subsection (a) must: (1) contain the name of the close corporation; (2) state that the close corporation is being operated and its business and affairs are being conducted under the terms of a shareholders' agreement under this subchapter; and (3) contain the date the operation of the corporation began. (c) A statement of operation as a close corporation shall be executed by an officer on behalf of the corporation. (d) On the filing of the statement of operation as a close corporation, the fact that the close corporation is being operated and its business and affairs are being conducted under the terms of a shareholders' agreement becomes a matter of public record. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.21.718
What does The Texas Constitution § BO.21.718 cover?
Section BO.21.718 ("STATEMENT OF OPERATION AS CLOSE CORPORATION") 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 § BO.21.718?
A common citation format is "The Texas Constitution § BO.21.718" (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 § BO.21.718 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.