Tex. Bus. Orgs. Code § 21.307 · Subchapter G. DISTRIBUTIONS AND SHARE DIVIDENDS
PAYMENT OF REDEEMED SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Payment of a certificated share shall be made only on the surrender of the respective share certificate.
(b) A corporation may give a transfer agent described by Section 21.306 irrevocable instructions to pay, on or after the date set for redemption of redeemable shares, the redemptive price to the respective holders of the shares as evidenced by a list of shareholders certified by an officer of 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 7037bfe329c00231c2fd57810ac0460e0d03a8c07cade8f75ac30755a1873798
- 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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