Application of Other Provisions To Limited Banking Associations

Sec. 33.211. APPLICATION OF OTHER PROVISIONS TO LIMITED BANKING ASSOCIATIONS. For purposes of the provisions of Subtitle A and this subtitle other than this subchapter, as the context requires: (1) a manager is considered to be a director and the board of managers is considered to be the board of directors; (2) a participant is considered to be a shareholder; (3) a participation share is considered to be a share; and (4) a distribution is considered to be a dividend. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997. Amended by: Acts 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 35, eff. September 1, 2007.