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Is a nonprofit entity formed under a special statute—such as an electric cooperative formed under the Texas Utilities Code—required to file a periodic report?

April 26, 2017cooperative electric entity formed nonprofit special Texas utilities

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Is a nonprofit entity formed under a special statute—such as an electric cooperative formed under the Texas Utilities Code—required to file a periodic report?

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Yes. The Texas Business Organizations Code (the “Code”) provides that a nonprofit corporation created under a special statue is subject to Title 1 and Chapter 22 of the Code, to the extent not inconsistent with the special statute.