2005 Texas Code - Business Corporation Act ARTICLE 12.01. SHORT TITLE

Business Corporation Act

Part 11. 






Art. 11.01. Emergency Clause                                                  

A. The fact that existing laws of the State of Texas have been 
amended from time to time over a period of some seventy (70) years 
and more without any adoption meanwhile of a complete Act relating 
to business corporations generally, the provisions of which are 
consistent with one another;  the fact that with so many amendments 
of the corporation laws applicable to business corporations 
generally over so many years there have developed many 
uncertainties in the corporation laws of this State and with the 
result that there is now an imperative need for clarification of 
certain provisions of the existing laws;  the fact that all of the 
other states than Texas in which large and important business is 
transacted have adopted in recent years modern corporation laws and 
with the result that Texas citizens are increasingly prone to 
organize their corporate ventures under the laws of other states 
than the laws of Texas because Texas does not have such a modern 
act;  and the fact that Texas in such connection is losing a 
substantial volume of corporate enterprise which it should 
otherwise gain from and after the time that a modern business 
corporation Act becomes effective in Texas and is losing tax income 
from ad valorem taxes, filing fees and otherwise meanwhile;  all 
such facts create an emergency and public necessity that the 
Constitutional Rule requiring bills to be read on three separate 
days in each House be suspended and said Rule is hereby suspended;  
and require that this Act take effect and be in force from and after 
the date of its enactment, and it is so enacted.

Acts 1955, 54th Leg., p. 239, ch. 64, eff. Sept. 6, 1955.                     






Art. 11.02. Applicability;  Expiration                                        

A. Except as provided by Title 8, Business Organizations Code, this 
Act does not apply to a corporation to which the Business 
Organizations Code applies.

B. This Act expires January 1, 2010.                                          

Added by Acts 2003, 78th Leg., ch. 182, Sec. 2, eff. Jan. 1, 2006.