Texas § 183.211 APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS.

Texas Statutes

§ 183.211 — APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS.

Texas § 183.211

Code FIFinance Code

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Bluebook

Tex. Finance Code Code Ann. § 183.211 (2026).

Text

Sec. 183.211. APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS. For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:

(1)a manager and the board of managers are considered to be a director and the board of directors;

(2)if there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;

(3)a participant or participant-transferee is considered to be a shareholder;

(4)a participation share is considered to be a share of stock; and

(5)a distribution is considered to be a dividend.

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Sec. 183.211. APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS. For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:
(1) a manager and the board of managers are considered to be a director and the board of directors;
(2) if there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;
(3) a participant or participant-transferee is considered to be a shareholder;
(4) a participation share is considered to be a share of stock; and
(5) a distribution is considered to be a dividend.