Tex. Bus. Orgs. Code § 21.461 · Subchapter J. FUNDAMENTAL BUSINESS TRANSACTIONS

PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

Except as provided by the corporation's certificate of formation:

(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and

(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.

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 df37f72e3eb72c91b2e807e7b0372e25161764c7f157fa15291392126a73e2dd
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.