Texas § 1806.003 DEFINITION OF CONTROLLING PERSON.

Texas Statutes

§ 1806.003 — DEFINITION OF CONTROLLING PERSON.

Texas § 1806.003

Code OCOccupations Code

This text of Texas § 1806.003 (DEFINITION OF 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. § 1806.003 (2026).

Text

Sec. 1806.003. DEFINITION OF CONTROLLING PERSON.

(a)In this section, "business entity" means a corporation, business trust, estate, trust, partnership, including a limited partnership, association, or any other legal entity, regardless of whether the entity is incorporated in this state.

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

(1)has direct or indirect control of at least 25 percent of the voting securities of a business entity;

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

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

(4)is a general partner of a partnership, including a limited partnership.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1806.003. DEFINITION OF CONTROLLING PERSON. (a) In this section, "business entity" means a corporation, business trust, estate, trust, partnership, including a limited partnership, association, or any other legal entity, regardless of whether the entity is incorporated in this state.
(b) In this chapter, "controlling person" means an individual who:
(1) has direct or indirect control of at least 25 percent of the voting securities of a business entity;
(2) has the authority to set policy and direct the management of a business entity;
(3) is the president, the secretary, or a director of a business entity; or
(4) is a general partner of a partnership, including a limited partnership.