Sec. 74.105. COMBINED REPORTING. (a) In this section:

(1) "Affiliated group" means a group of one or more entities in which a controlling interest is owned by a common owner, either corporate or noncorporate, or by one or more of the member entities.

(2) "Controlling interest" means:

(A) for a corporation, more than 50 percent, owned directly or indirectly, of the total voting power of all classes of stock of the corporation;

(B) for a partnership, more than 50 percent, owned directly or indirectly, of the capital or profits in the partnership;

(C) for a limited liability company, more than 50 percent, owned directly or indirectly, of the total membership interest of the limited liability company; and

(D) for an association, trust, or other entity, more than 50 percent, owned directly or indirectly, of the beneficial interest in the association, trust, or other entity.

(b) If a holder that is required to file a property report under this chapter is a member of an affiliated group, the holder shall file one report for the affiliated group.

Added by Acts 2019, 86th Leg., R.S., Ch. 897 (H.B. 3598), Sec. 4, eff. June 10, 2019.