86th Texas Legislature, Regular Session, Senate Bill 1969, Chapter 664 Page: 6 of 21
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S.B. No. 1969
1 time of that defective corporate act; or
2 (2) the type of defective corporate act to be ratified
3 at the time the board of directors adopts the resolutions ratifying
4 that defective corporate act under Section 22.503.
5 Sec. 22.506. NOTICE REQUIREMENTS FOR RATIFIED DEFECTIVE
6 CORPORATE ACT SUBMITTED FOR APPROVAL OF MEMBERS WITH VOTING RIGHTS.
7 (a) If a corporation has members with voting rights and if the
8 ratification of a defective corporate act is required to be
9 submitted to such members for approval under Section 22.505, notice
10 of the time, place, if any, and purpose of the meeting shall be
11 given at least 20 days before the date of the meeting to:
12 (1) each member with voting rights as of the record
13 date of the meeting, at the address of the member as it appears or
14 most recently appeared, as appropriate, on the corporation's
15 records; and
16 (2) each member with voting rights as of the time of
17 the defective corporate act, except that notice is not required to
18 be given to a member whose identity or address cannot be ascertained19 from the corporation's records.
20 (b) The notice must contain:
21 (1) copies of the resolutions adopted by the board of
22 directors under Section 22.503 or the information required by
23 Sections 22.503(a) (l)-(4) ; and
24 (2) a statement that, on member approval of the
25 ratification of the defective corporate act made in accordance with
26 this subchapter, the member's right to challenge the defective
27 corporate act is limited to an action claiming that a court of6
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Texas. Legislature. Senate. 86th Texas Legislature, Regular Session, Senate Bill 1969, Chapter 664, legislative document, June 10, 2019; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth1201322/m1/6/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.