81st Texas Legislature, Regular Session, Senate Bill 1442, Chapter 84 Page: 2 of 64

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S.B. No. 1442
[mo -] as the organization [en~ty] existed before the
organization's [sbitbbyze] conversion.
(56-a) "Non-United States entity" means a foreign
entity formed under, and the internal affairs of which are governed
by, the laws of a non-United States jurisdiction.
(56-b) "Non-United States jurisdiction" means a
foreign country or other foreign jurisdiction that is not the
United States or a state of the United States.
(81) "Shareholder" or "holder of shares" means:
(A) the person in whose name shares issued by a
for-profit corporation, professional corporation, or real estate
investment trust are registered in the share transfer records
maintained by the for-profit corporation, professional
corporation, or real estate investment trustor
(B) the beneficial owner of shares issued by a
for-profit corporation, whose shares are held in a voting trust or
by a nominee on the beneficial owner's behalf, to the extent of the
I . i
rights granted by a nominee statement on file with the for-profit
corporation in accordance with Sections 21.201(b) and (c).
Id-SECTION 2. Section 2.003, Business Organizations Code, is
amended to read as follows:
;Sec. 2.003. GENERAL PROHIBITED PURPOSES. A domestic entity
may no :
(1) engage in a business or activity that:
(A) is expressly unlawful or prohibited by a law
of this state; or

(B) cannot lawfll~ be en a ed in bv thrr P t

y

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Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1442, Chapter 84, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310916/m1/2/ocr/: accessed September 28, 2016), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.