The Close Corporation and The New Texas Business Corporation Act

Looks at recent amendments to the Texas Business Corporation Act (TBCA) and the impact of those amendments on Texas-based close corporations. The author suggests that these amendments will undoubtedly breed confusion; therefore, the author aims to highlight both the applicable provisions which will be useful and the problems which should be avoided in applying the new and amended provisions of the TBCA. Aims to reconcile the impending confusion by providing detailed information for practicing attorneys concerning the use of the TBCA to fulfill the varying needs of contemporary close corporations.