Tex. Bus. Orgs. Code § 200.104 · Subchapter C. SHARES
ISSUANCE OF SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A real estate investment trust may issue shares for consideration if authorized by the trust managers.
(b) Shares may not be issued until the consideration, determined in accordance with this subchapter, has been paid to the real estate investment trust or to another entity of which all of the outstanding ownership interests are directly or indirectly owned by the real estate investment trust. When the consideration is paid:
(1) the shares are considered to be issued;
(2) the shareholder entitled to receive the shares is a shareholder with respect to the shares; and
(3) the shares are considered fully paid and nonassessable.
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 ba014e70930f6a7454e2f3dc893d13f313804500aaddb8bd766554f0b3121e34
- 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 § 200.104. Each shows the citation as that text prints it.
Business Organizations Code
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