Tex. Fin. Code Section 183.211
Application of Other Provisions to Limited Trust Associations

For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:

(1)

a manager and the board of managers are considered to be a director and the board of directors;

(2)

if there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;

(3)

a participant or participant-transferee is considered to be a shareholder;

(4)

a participation share is considered to be a share of stock; and

(5)

a distribution is considered to be a dividend.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.

Source: Section 183.211 — Application of Other Provisions to Limited Trust Associations, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­183.­htm#183.­211 (accessed May 11, 2024).

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Accessed:
May 11, 2024

§ 183.211’s source at texas​.gov