Business Organizations Code § 4.053

Sec. 4.053. CONDITIONS FOR DELAYED EFFECTIVENESS. (a) The date, or the date and time, at which a filing instrument takes effect is delayed if the instrument clearly and expressly states, in addition to any other required statement or information: (1) the specified date, or the specified date and time, at which the instrument takes effect; or (2) if the instrument takes effect on or after the occurrence of a future event or fact that may occur: (A) the event or fact that will cause the instrument to take effect; (B) when the filing instrument is to take effect if the instrument is to take effect after the occurrence of a specified future event or fact; and (C) the date of the 90th day after the date the instrument is signed. (b) If the effectiveness of a filing instrument is to be delayed as permitted by Section 4.052: (1) the effective date may not be later than the 90th day after the date the instrument is signed; and (2) the specified time at which the instrument is to take effect may not be specified as "12:00 a.m." or "12:00 p.m." Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2019, 86th Leg., R.S., Ch. 658 (S.B. 1859), Sec. 4, eff. September 1, 2019.