Massachusetts Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act

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This is a sample of certain articles contained in the Texas Business Corp. Act, which may be used across the United States. These articles discuss appraisal rights provisions.
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  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act

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Code § 15.51(c) (?[T]he court shall reform the covenant to the extent necessary to cause the limitations contained in the covenant as to time, geographical area, and scope of activity to be restrained to be reasonable . . . and enforce the covenant as reformed, except that the court may not award the promisee damages ... Analyses of Section 15.51 - Casetext casetext.com ? statute ? texas-codes ? analysis casetext.com ? statute ? texas-codes ? analysis

Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate ?an actual fraud? primarily for the purpose of personal benefit?. Piercing the Corporate Veil in Texas | Single Business Entities hchlawyers.com ? business-litigation ? alter-... hchlawyers.com ? business-litigation ? alter-...

Under Texas Business and Commerce Code § 15.50(a), a covenant not to compete is only enforceable (1) if it is ancillary to or part of an otherwise enforceable agreement at the time the agreement is made, and (2) to the extent that it contains limitations as to time, geographical area and scope of activity to be ...

15.51. PROCEDURES AND REMEDIES IN ACTIONS TO ENFORCE COVENANTS NOT TO COMPETE. (a) Except as provided in Subsection (c) of this section, a court may award the promisee under a covenant not to compete damages, injunctive relief, or both damages and injunctive relief for a breach by the promisor of the covenant.

4. The right to make changes in governing documentation: Shareholders can vote for any changes to the governing documents, such as the charter or the bylaws amendments.

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Massachusetts Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act