§ 22.001 Definitions
Sec. 22.001. DEFINITIONS.
In this chapter:
(1) "Board of directors" means the group of persons vested with the management of the affairs of the corporation, regardless of the name used to designate the group.
(2) "Bylaws" means the rules adopted to regulate or manage the corporation, regardless of the name used to designate the rules.
(3) "Corporation" or "domestic corporation" means a domestic nonprofit corporation subject to this chapter.
(4) "Foreign corporation" means a foreign nonprofit corporation.
(5) "Nonprofit corporation" means a corporation no part of the income of which is distributable to a member, director, or officer of the corporation.
(6) "Ordinary care" means the care that an ordinarily prudent person in a similar position would exercise under similar circumstances.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
