Tex. Bus. Orgs. Code § 200.102 · Subchapter C. SHARES
CLASSIFICATION OF SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A real estate investment trust may provide in the real estate investment trust's certificate of formation:
(1) that a specified class of shares is preferred over another class of shares as to its distributive share of the assets on voluntary or involuntary liquidation of the real estate investment trust;
(2) the amount of a preference described by Subdivision (1);
(3) that a specified class of shares may be redeemed at the option of the real estate investment trust or of the holders of the shares;
(4) the terms and conditions of a redemption of shares described by Subdivision (3), including the time and price of redemption;
(5) that a specified class of shares may be converted into shares of one or more other classes;
(6) the terms and conditions of a conversion described by Subdivision (5);
(7) that a holder of a specified security issued or to be issued by the real estate investment trust has voting or other rights authorized by law; and
(8) for other preferences, rights, restrictions, including restrictions on transferability, and qualifications consistent with law.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.200.htm
- Text hash
- sha256 d77161bb5edab304a44488ad23c08ae6ef8402b99cf4477bd827a11e2ef8d4b0
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 200.102. Each shows the citation as that text prints it.
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.