1 Tex. Admin. Code § 24.1 - Corporations and Certain Associations Covered
(a) This chapter applies to:
(1) labor organizations;
(2) corporations that are organized under the
Texas Business Corporation Act, the Texas For-Profit Corporation Law, the Texas
Non-Profit Corporation Act, the Texas Non-Profit Corporation Law, federal law,
or the laws of another state or nation; and
(3) the following associations, whether
incorporated or not, which for purposes of this chapter are considered to be
corporations covered by this chapter:
(A)
banks;
(B) trust
companies;
(C) savings and loan
associations or companies;
(D)
insurance companies;
(E) reciprocal
or interinsurance exchanges;
(F)
railroad companies;
(G) cemetery
companies;
(H) government-regulated
cooperatives;
(I) stock companies;
and
(J) abstract and title
insurance companies.
(b) For purposes of this chapter, members of
a corporation that does not have stockholders and members of an association
listed in subsection (a)(3) of this section are considered to be
stockholders.
(c) This chapter does
not apply to a political committee that incorporates for liability purposes
only in accordance with subsection (d) of this section, provided that the sole
principal purpose of the committee is accepting political contributions and
making political expenditures.
(d)
A political committee may incorporate to limit its liability by providing in
its official incorporation documents that it is a political committee that is
incorporating for liability purposes only, and that its only principal purpose
is to accept political contributions and make political expenditures.
Notes
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