Texas § HS.712.0039 - TRANSFER OF BUSINESS OWNERSHIP
Full text of Texas The Texas Constitution § HS.712.0039 — TRANSFER OF BUSINESS OWNERSHIP, with citation guidance and answers to common questions.
§ HS.712.0039. TRANSFER OF BUSINESS OWNERSHIP
TRANSFER OF BUSINESS OWNERSHIP; CHANGE OF CONTROL. (a) A certificate holder shall notify the department in writing of a transfer of ownership of the certificate holder's business or a transfer of 25 percent or more of the stock or other ownership or membership interest of the corporation as follows: (1) in the case of a voluntary transfer, not later than the seventh day after the date the contract for transfer is executed; and (2) in the case of an involuntary transfer, not later than one business day after receiving notice of the impending foreclosure or other involuntary transfer. (b) If the proposed transferee would own more than 50 percent of the stock or other ownership or membership interest of the corporation and is not a certificate holder, the proposed transferee shall file any necessary documents with the secretary of state and an application for a certificate of authority with the department as required by this chapter. If the proposed transferee is required to apply for a certificate of authority under this subsection, the transfer of the perpetual care fund may not occur until after the date a certificate of authority is issued to the transferee applicant. (c) If the commissioner denies the application, a hearing may be requested and conducted according to the procedures in Section 712.0035 (b). Added by Acts 2011, 82nd Leg., R.S., Ch. 532 (H.B. 2495 ), Sec. 8, eff. September 1, 2011. Added by Acts 2011, 82nd Leg., R.S., Ch. 1336 (S.B. 1167 ), Sec. 8, eff. September 1, 2011. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 123 (S.B. 661 ), Sec. 8, eff. September 1, 2013.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § HS.712.0039
What does The Texas Constitution § HS.712.0039 cover?
Section HS.712.0039 ("TRANSFER OF BUSINESS OWNERSHIP") 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 § HS.712.0039?
A common citation format is "The Texas Constitution § HS.712.0039" (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 § HS.712.0039 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.