Sec. 21.713. MANAGEMENT. A close corporation shall be managed:
(1) by a board of directors in the same manner an ordinary corporation would be managed under this chapter; or
(2) in the manner provided by the close corporation's certificate of formation or by a shareholders' agreement of the close corporation.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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