Sec. 183.211.  APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS.  For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:
(1)  a manager and the board of managers are considered to be a director and the board of directors;
(2)  if there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;
(3)  a participant or participant-transferee is considered to be a shareholder;
(4)  a participation share is considered to be a share of stock;  and
(5)  a distribution is considered to be a dividend.
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.