Tex. Bus. Orgs. Code § 21.208 · Subchapter E. SHAREHOLDER RIGHTS AND RESTRICTIONS
PREEMPTIVE RIGHT IN EXISTING CORPORATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Subject to the certificate of formation, a shareholder of a corporation incorporated before September 1, 2003, has a preemptive right to acquire unissued or treasury shares of the corporation to the extent provided by Sections 21.204, 21.206, and 21.207. After September 1, 2003, a corporation may limit or deny the preemptive right of the shareholders of the corporation by amending the corporation's certificate of formation.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 47, eff. January 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 af4e9a7cfef142e132f7608e5dcd37b15bb07ab0a12d39745dbd4107d7331d2a
- 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 § 21.204STATUTORY PREEMPTIVE RIGHTS.Printed as Sections 21.204, 21.206, and 21.207
- Tex. Bus. Orgs. Code § 21.206LIMITATION ON ACTION TO ENFORCE PREEMPTIVE RIGHT.Printed as Sections 21.204, 21.206, and 21.207
- Tex. Bus. Orgs. Code § 21.207DISPOSITION OF SHARES HAVING PREEMPTIVE RIGHTS.Printed as Sections 21.204, 21.206, and 21.207
Cited by 2 provisions
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 21.208. Each shows the citation as that text prints it.
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.