Sec. 1304.0035.  CONTROLLING PERSON.  (a)  In this chapter, "controlling person" means an individual who:
(1)  possesses direct or indirect control of at least 25 percent of the voting securities of a corporation;
(2)  possesses the authority to set policy and direct the management of a business entity;
(3)  is the president, the secretary, or a director of a corporation; or
(4)  is a general partner of a partnership.
(b)  An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.
Added by Acts 2005, 79th Leg., Ch. 63 (H.B. 1286), Sec. 3, eff. January 1, 2006.