Texas § BO.22.257 - APPROVAL OF EXCHANGE
Full text of Texas The Texas Constitution § BO.22.257 — APPROVAL OF EXCHANGE, with citation guidance and answers to common questions.
§ BO.22.257. APPROVAL OF EXCHANGE
APPROVAL OF EXCHANGE. (a) A domestic corporation must approve an exchange under Chapter 10 by complying with this section. (b) If the corporation has no members or has no members with voting rights, the plan of exchange must be approved by the vote of directors required by Section 22.164 . (c) If the management of the affairs of the corporation is vested in its members under Section 22.202 , the plan of exchange: (1) must be submitted to a vote at an annual, regular, or special meeting of the members; and (2) must be approved by the members by the vote required by Section 22.164 . (d) If the corporation has members with voting rights: (1) the board of directors must adopt a resolution that: (A) approves the plan of exchange; and (B) directs that the plan be submitted to a vote at an annual or special meeting of the members having voting rights; and (2) the members must approve the plan of exchange by the vote required by Section 22.164 . Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. SUBCHAPTER G. WINDING UP AND TERMINATION
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.22.257
What does The Texas Constitution § BO.22.257 cover?
Section BO.22.257 ("APPROVAL OF EXCHANGE") 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.22.257?
A common citation format is "The Texas Constitution § BO.22.257" (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.22.257 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.