The Texas Close Corporation Law: Some Observations and Modest Proposals
Johnson, Henry F.
Presents, describes, and analyzes selected sections of the Texas Close Corporation Law (TCCL) in view of the special needs of the closely held concern. A closely held concern has a small number of shareholder and often not traded. The general thrust of this article is that close corporation statutes must be drafted with closed corporations’ specific situations in mind. Because it is only through such careful drafting that a level of certainty will be created that lawyers, incorporators, and businesspersons can rely upon.