Texas Business Organizations Code
Sec. § 10.001
Adoption of Plan of Merger


(a)

A domestic entity may effect a merger by complying with the applicable provisions of this code. A merger must be set forth in a plan of merger.

(b)

To effect a merger, each domestic entity that is a party to the merger must act on and approve the plan of merger in the manner prescribed by this code for the approval of mergers by the domestic entity.

(c)

A domestic entity subject to dissenters’ rights must provide the notice required by Section 10.355 (Notice of Right of Dissent and Appraisal).

(d)

If one or more non-code organizations is a party to the merger or is to be created by the plan of merger:

(1)

to effect the merger each non-code organization must take all action required by this code and its governing documents;

(2)

the merger must be permitted by:

(A)

the law of the state or country under whose law each non-code organization is incorporated or organized; or

(B)

the governing documents of each non-code organization if the documents are not inconsistent with the law under which the non-code organization is incorporated or organized; and

(3)

in effecting the merger each non-code organization that is a party to the merger must comply with:

(A)

the applicable laws under which it is incorporated or organized; and

(B)

the governing documents of the non-code organization.

(e)

A domestic entity may not merge under this subchapter if an owner or member of that entity that is a party to the merger will, as a result of the merger, become subject to owner liability, without that owner’s or member’s consent, for a liability or other obligation of any other person.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 32 (S.B. 860), Sec. 5, eff. September 1, 2015.
Source
Last accessed
Jul. 16, 2020