Texas § GV.572.005 - DETERMINATION OF SUBSTANTIAL INTEREST
Full text of Texas The Texas Constitution § GV.572.005 — DETERMINATION OF SUBSTANTIAL INTEREST, with citation guidance and answers to common questions.
§ GV.572.005. DETERMINATION OF SUBSTANTIAL INTEREST
DETERMINATION OF SUBSTANTIAL INTEREST. An individual has a substantial interest in a business entity if the individual: (1) has a controlling interest in the business entity; (2) owns more than 10 percent of the voting interest in the business entity; (3) owns more than $25,000 of the fair market value of the business entity; (4) has a direct or indirect participating interest by shares, stock, or otherwise, regardless of whether voting rights are included, in more than 10 percent of the profits, proceeds, or capital gains of the business entity; (5) is a member of the board of directors or other governing board of the business entity; (6) serves as an elected officer of the business entity; or (7) is an employee of the business entity. Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.572.005
What does The Texas Constitution § GV.572.005 cover?
Section GV.572.005 ("DETERMINATION OF SUBSTANTIAL INTEREST") 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 § GV.572.005?
A common citation format is "The Texas Constitution § GV.572.005" (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 § GV.572.005 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.