Tex. Bus. Orgs. Code § 21.167 · Subchapter D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES
COMMITMENT TO PURCHASE SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.
(b) A written commitment entered into under Subsection (a) is a contract between the shareholder 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 8c37b5414f638726d6db77e4fe008021ea31cdfe8d928e9bfe75bd075cc5e853
- 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.