Tex. Agric. Code § 54.011 · Chapter 54. MUTUAL LOAN CORPORATIONS
REPURCHASE OF STOCK.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A corporation formed under this chapter may purchase, out of its available funds, any of its outstanding stock.
(b) The corporation shall pay book value for stock purchased under this section, as conclusively determined by the corporation's directors.
(c) A corporation formed under this chapter shall state the provisions of Subsections (a) and (b) of this section in its articles of incorporation.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1121, ch. 388, Sec. 1, eff. Sept. 1, 1981.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.54.htm
- Text hash
- sha256 038b24827186a523ccb7b45674f3f7b61454bd6eb5655c9e4271c3b7a1f1c8e4
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.