Is an electric cooperative formed under the Utilities Code required to file a periodic report under article 9.01 of the Texas Nonprofit Corporation Act?
Yes. The Texas Miscellaneous Corporation Laws Act, article 1302-1.03, provides that all corporations organized under special statutes shall be subject to the provisions of the Texas Nonprofit Corporation Act (TNPCA) to the extent the special statute is not inconsistent with the TNPCA. The TNPCA, article 1396-10.04G, provides that all corporations organized on a not for profit basis under special statutes, which do not contain some of the provisions found in the TNPCA, are subject to those provisions of the TNPCA. Consequently, pursuant to these provisions, all corporations organized not for profit, regardless of the statute under which they are formed, are subject to the requirements of article 9.01.
Related Questions
- 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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