Tex. Bus. Orgs. Code § 21.159 · Subchapter D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES
TYPES OF CONSIDERATION FOR SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Shares with or without par value may be issued for the following types of consideration:
(1) a tangible or intangible benefit to the corporation;
(2) cash;
(3) a promissory note;
(4) services performed or a contract for services to be performed;
(5) a security of the corporation or any other organization; and
(6) any other property of any kind or nature.
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.21.htm
- Text hash
- sha256 303648f0879507bb1fedb1c69f55127fe7b61b13186d2952f95b92f7a9eea60e
- 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 § 21.159. Each shows the citation as that text prints it.
Business Organizations Code
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.