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BizIPEsq.
BizIPEsq., Attorney
Category: Business Law
Satisfied Customers: 996
Experience:  I am a business attorney. I represent individuals and companies with all business related matters.
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What is the Texas BOC that requires a Board to show the Association

Resolved Question:

What is the Texas BOC that requires a Board to show the Association Books, records, including financials. I already know the 209 and 005. Just need the BOC.
Submitted: 1 year ago.
Category: Business Law
Expert:  BizIPEsq. replied 1 year ago.

BizIPEsq. :

Hello, I will be assisting you

BizIPEsq. :

Is this for a for-profit corp?

BizIPEsq. :

For profit corporations see this: Sec. 21.218. EXAMINATION OF RECORDS. (a) In this section, a holder of a beneficial interest in a voting trust entered into under Section 6.251 is a holder of the shares represented by the beneficial interest.


(b) Subject to the governing documents and on written demand stating a proper purpose, a holder of shares of a corporation for at least six months immediately preceding the holder's demand, or a holder of at least five percent of all of the outstanding shares of a corporation, is entitled to examine and copy, at a reasonable time, the corporation's relevant books, records of account, minutes, and share transfer records. The examination may be conducted in person or through an agent, accountant, or attorney.


(c) This section does not impair the power of a court, on the presentation of proof of proper purpose by a beneficial or record holder of shares, to compel the production for examination by the holder of the books and records of accounts, minutes, and share transfer records of a corporation, regardless of the period during which the holder was a beneficial holder or record holder and regardless of the number of shares held by the person.

BizIPEsq. :

For non-profit corporations see this: Sec. 22.351. MEMBER'S RIGHT TO INSPECT BOOKS AND RECORDS. A member of a corporation, on written demand stating the purpose of the demand, is entitled to examine and copy at the member's expense, in person or by agent, accountant, or attorney, at any reasonable time and for a proper purpose, the books and records of the corporation relevant to that purpose.

BizIPEsq. :

Thank you for allowing me to assist you

Customer:

No. non profit, P O A assoc.

BizIPEsq. :

let me confirm

BizIPEsq. :

209.005 is the law that requires the association to show the books. There is no other provision except that of a non-profit corporation as indicated above. However an association is not a non-profit corp.

BizIPEsq. :

Under sections 251.352 and 251.353 there is also a requirement by the association to report on its financial condition (this is different than showing the books)

BizIPEsq. :

The above sections are from the BOC

Customer:

Our Association is a non profit corp.

Customer:

Our assoc is a non profit corp, HOA/POA.

BizIPEsq. :

Thank you. Please scroll up and I provided the section reference for non-profit corps there

BizIPEsq. :

Thank you for allowing me to assist you

BizIPEsq., Attorney
Category: Business Law
Satisfied Customers: 996
Experience: I am a business attorney. I represent individuals and companies with all business related matters.
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