Tex. Bus. Orgs. Code § 21.216 · Subchapter E. SHAREHOLDER RIGHTS AND RESTRICTIONS
LIABILITY REGARDING JOINT OWNERSHIP OF SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A corporation that transfers shares or makes a distribution to a surviving joint owner under Section 21.214 before the corporation has received a written claim for the shares or distribution from another person is discharged from liability for the transfer or payment.
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 d81cff00f147e7a7ccea5e38a0ea4190ae461a31a12d9cdf916ecc06dca7c6f7
- 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
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Business Organizations Code
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Business Organizations Code
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