Tex. Bus. Orgs. Code § 200.154 · Subchapter D. SHAREHOLDER RIGHTS AND RESTRICTIONS
RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A restriction on the transfer or registration of transfer of a security may be imposed by:
(1) the real estate investment trust's certificate of formation;
(2) the real estate investment trust's bylaws;
(3) a written agreement among two or more holders of the securities; or
(4) a written agreement among one or more holders of the securities and the real estate investment trust if:
(A) the real estate investment trust files a copy of the agreement at the principal place of business or registered office of the real estate investment trust; and
(B) the copy of the agreement is subject to the same right of examination by a shareholder of the real estate investment trust, in person or by agent, attorney, or accountant, as the books and records of the real estate investment trust.
(b) A restriction imposed under Subsection (a) is not valid with respect to a security issued before the restriction has been adopted, unless the holder of the security voted in favor of the restriction or is a party to the agreement imposing the restriction.
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 a2fd7387abfdd47b929ff517286bde20106f56a7b2c54584ae5cb3d49114a446
- 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 § 200.154. Each shows the citation as that text prints it.
Business Organizations Code
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