§ 173.003 — AGREEMENT OR BYLAW PROVISION VALID.

Texas § 173.003

• Jurisdiction: Texas
• Code CP: Civil Practice and Remedies Code

Text

Sec. 173.003. AGREEMENT OR BYLAW PROVISION VALID. (a) A written agreement to submit a controversy to arbitration at common law is valid and enforceable if the agreement is to arbitrate a controversy that arises between the parties after the date of the agreement.
(b) A party may revoke the agreement only on a ground that exists at law or in equity for the revocation of a contract.
(c) A provision in the bylaws of a nonprofit corporation incorporated under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) or under Subchapter C , Chapter 23 , Business Organizations Code, that requires a member of the corporation to arbitrate at common law a controversy that subsequently arises between members or between the corporation and its members is a valid, enforceable, and irrevocable agreement by a member of the corporation to arbitrate the controversy.

Legislative History

Added by Acts 1997, 75th Leg., ch. 165, Sec. 5.03, eff. Sept. 1, 1997. Amended by: Acts 2023, 88th Leg., R.S., Ch. 750 (H.B. 3949 ), Sec. 3, eff. June 12, 2023.