Tex.
Bus. Orgs. Code Section 22.355
Exemptions from Certain Requirements Relating to Financial Records and Annual Reports
(1)
a corporation that solicits funds only from members of the corporation;(2)
a corporation that does not intend to solicit and receive and does not actually raise or receive during a fiscal year contributions in an amount exceeding $10,000 from a source other than its own membership;(3)
a private or independent institution of higher education described by Section 61.003 (Definitions), Education Code, accredited by a recognized accrediting agency as defined by Section 61.003 (Definitions), Education Code, a postsecondary educational institution authorized to grant degrees under a certificate of authority issued by the Texas Higher Education Coordinating Board or a foundation chartered for the benefit of the institution or any component part of the institution, a career school or college that has received a certificate of approval from the Texas Workforce Commission, a public institution of higher education or a foundation chartered for the benefit of the institution or any component part of the institution, or an elementary or secondary school;(4)
a religious institution that is a church, an ecclesiastical or denominational organization, or another established physical place for worship at which religious services are the primary activity and are regularly conducted;(5)
a trade association or professional society the income of which is principally derived from membership dues and assessments, sales, or services;(6)
an insurer licensed and regulated by the Texas Department of Insurance; or(7)
an alumni association of a public or private institution of higher education in this state that is recognized and acknowledged as the official alumni association by the institution.
Source:
Section 22.355 — Exemptions from Certain Requirements Relating to Financial Records and Annual Reports, https://statutes.capitol.texas.gov/Docs/BO/htm/BO.22.htm#22.355 (accessed Jun. 5, 2024).
