Tex. Bus. Orgs. Code § 200.403 · Subchapter I. FUNDAMENTAL BUSINESS TRANSACTIONS
APPROVAL OF CONVERSION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A real estate investment trust must approve a conversion under Chapter 10 by complying with this section.
(b) The trust managers of the real estate investment trust shall adopt a resolution that approves the plan of conversion and:
(1) recommends that the plan of conversion be approved by the shareholders of the real estate investment trust; or
(2) directs that the plan of conversion be submitted to the shareholders for approval without recommendation if the trust managers determine for any reason not to recommend approval of the plan of conversion.
(c) The plan of conversion shall be submitted to the shareholders of the real estate investment trust for approval as provided by this subchapter. The trust managers may place conditions on the submission of the plan of conversion to the shareholders.
(d) If the trust managers approve a plan of conversion but do not adopt a resolution recommending that the plan of conversion be approved by the shareholders of the real estate investment trust, the trust managers shall communicate to the shareholders the reason for the trust managers' determination to submit the plan of conversion without a recommendation.
(e) Except as provided by Sections 200.407-200.409, the shareholders of the real estate investment trust must approve the plan of conversion as provided by this subchapter.
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 d896c09a52afcbfefd98713418cf813c340c0b8ca99d333adb5a22c4cc7c0f87
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code ch. 10MERGERS, INTEREST EXCHANGES, CONVERSIONS, AND SALES OF ASSETSPrinted as Chapter 10
- Tex. Bus. Orgs. Code § 200.407GENERAL VOTE REQUIREMENT FOR APPROVAL OF FUNDAMENTAL BUSINESS TRANSACTION.Printed as Sections 200.407-200.409
- Tex. Bus. Orgs. Code § 200.409NO SHAREHOLDER VOTE REQUIREMENT FOR CERTAIN FUNDAMENTAL BUSINESS TRANSACTIONS.Printed as Sections 200.407-200.409
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.