Texas § BO.21.957 - PERIODIC STATEMENTS
Full text of Texas The Texas Constitution § BO.21.957 — PERIODIC STATEMENTS, with citation guidance and answers to common questions.
§ BO.21.957. PERIODIC STATEMENTS
PERIODIC STATEMENTS. (a) A public benefit corporation shall include in each notice of a meeting of shareholders a statement to the effect that the corporation is a public benefit corporation governed by this subchapter. (b) A public benefit corporation, at least biennially, shall provide to the corporation's shareholders a statement pertaining to the corporation's promotion of the public benefit or benefits specified in the corporation's certificate of formation and promotion of the best interests of those materially affected by the corporation's conduct. The statement must include: (1) the objectives the board of directors has established to promote the public benefit or benefits and interests; (2) the standards the board of directors has adopted to measure the corporation's progress in promoting the public benefit or benefits and interests; (3) objective factual information based on those standards regarding the corporation's success in meeting the objectives for promoting the public benefit or benefits and interests; and (4) an assessment of the corporation's success in meeting the objectives and promoting the public benefit or benefits and interests. (c) The certificate of formation or bylaws of a public benefit corporation may require that the corporation: (1) provide the statement required by Subsection (b) more frequently than biennially; or (2) make the statement required by Subsection (b) available to the public. Added by Acts 2017, 85th Leg., R.S., Ch. 776 (H.B. 3488 ), Sec. 4, eff. September 1, 2017.
Frequently Asked Questions About Texas § BO.21.957
What does The Texas Constitution § BO.21.957 cover?
Section BO.21.957 ("PERIODIC STATEMENTS") 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.21.957?
A common citation format is "The Texas Constitution § BO.21.957" (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.21.957 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.