Tex. Bus. Orgs. Code § 21.165 · Subchapter D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES
SUBSCRIPTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A corporation may accept a subscription by notifying the subscriber in writing.
(b) A subscription to purchase shares in a corporation in the process of being formed is irrevocable for six months if the subscription is in writing and signed by the subscriber, unless the subscription provides for a longer or shorter period or all of the other subscribers agree to the revocation of the subscription.
(c) A written subscription entered into after the corporation is formed is a contract between the subscriber and the corporation.
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 d84dfe1898c43b51d5cdd41511862cc0a1e62976c08e25681b630de0040cc5b5
- 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
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.