Texas § 1304.0035 CONTROLLING PERSON.

Texas Statutes

§ 1304.0035 — CONTROLLING PERSON.

Texas § 1304.0035

Code OCOccupations Code

This text of Texas § 1304.0035 (CONTROLLING PERSON.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Occupations Code Code Ann. § 1304.0035 (2026).

Text

Sec. 1304.0035. CONTROLLING PERSON.

(a)In this chapter, "controlling person" means an individual who:

(1)possesses direct or indirect control of at least 25 percent of the voting securities of a corporation;

(2)possesses the authority to set policy and direct the management of a business entity;

(3)is the president, the secretary, or a director of a corporation; or

(4)is a general partner of a partnership.

(b)An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.

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Sec. 1304.0035. CONTROLLING PERSON. (a) In this chapter, "controlling person" means an individual who:
(1) possesses direct or indirect control of at least 25 percent of the voting securities of a corporation;
(2) possesses the authority to set policy and direct the management of a business entity;
(3) is the president, the secretary, or a director of a corporation; or
(4) is a general partner of a partnership.
(b) An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.