Section 3.013 - Supplemental Provisions Required in Certificate of Formation of Cooperative Association In addition to the information required by Section 3.005, the certificate of formation of a cooperative association must state:
(1) whether the cooperative association is organized with or without shares;(2) the number of shares or memberships subscribed for the cooperative association;(3) if the cooperative association is organized with shares:(A) the amount of authorized capital;(B) the number and type of shares;(C) par value of the shares, if any; and(D) the rights, preferences, and restrictions of each type of share;(4) the method of distribution on winding up and termination of any surplus of the cooperative association in accordance with Section 251.403; and(5) the names and street addresses of the directors who will manage the affairs of the cooperative association for the initial year, unless sooner changed by the members.Tex. Bus. Org. Code § 3.013
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.