Tex. Occ. Code Section 1304.0035
Controlling Person


(a)

In this chapter, “controlling person” means an individual who:

(1)

possesses direct or indirect control of at least 25 percent of the voting securities of a corporation;

(2)

possesses the authority to set policy and direct the management of a business entity;

(3)

is the president, the secretary, or a director of a corporation; or

(4)

is a general partner of a partnership.

(b)

An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.
Added by Acts 2005, 79th Leg., Ch. 63 (H.B. 1286), Sec. 3, eff. January 1, 2006.

Source: Section 1304.0035 — Controlling Person, https://statutes.­capitol.­texas.­gov/Docs/OC/htm/OC.­1304.­htm#1304.­0035 (accessed Apr. 29, 2024).

Accessed:
Apr. 29, 2024

§ 1304.0035’s source at texas​.gov