Tex. Bus. Orgs. Code § 200.266 · Subchapter F. SHAREHOLDERS' MEETINGS; VOTING AND QUORUM
REVOCABILITY OF PROXY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, a "proxy coupled with an interest" includes the appointment as proxy of:
(1) a pledgee;
(2) a person who purchased or agreed to purchase the shares subject to the proxy;
(3) a person who owns or holds an option to purchase the shares subject to the proxy;
(4) a creditor of the real estate investment trust who extended the real estate investment trust credit under terms requiring the appointment;
(5) an employee of the real estate investment trust whose employment contract requires the appointment; or
(6) a party to a voting agreement created under Section 6.252.
(b) A proxy is revocable unless:
(1) the proxy form conspicuously states that the proxy is irrevocable; and
(2) the proxy is coupled with an interest.
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 77820204a4545f76768e5da2d6838c4ba5e08bb4a53cb765840fa7b70b8a5895
- 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
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Business Organizations Code
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