Business Organizations Code § 2.111
A cooperative association generally may not use its funds, issue shares, or incur debt to pay organization compensation above 5% of the amount paid for the shares or membership certificates, except for necessary legal fees or promotion expenses.
- Jurisdiction
- United States — Texas
- Instrument
- Code
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
compensation limits cooperative association powers organizational expenses
Statute overview
About this statute
This page preserves the statute’s identified version, provision structure, official source link, and stored legal text for reading and research.
Ask AI about this statute
Business Organizations Code § 2.111
Sign in to ask AI about this statute
Sign in to start authenticated, citation-grounded statute research.
Sign inLexChat organizes source-backed legal information for research. Verify amendments, commencement, and current legal force with the official publisher before relying on it.