Tex. Bus. Orgs. Code § 251.201 · Subchapter E. SHARES
SHARE AND MEMBERSHIP CERTIFICATES: ISSUANCE AND CONTENTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A cooperative association may not issue a certificate for membership capital or for invested capital until any par value of the certificate has been paid in full.
(b) Each certificate for membership capital issued by a cooperative association must contain a statement of the requirements of Sections 251.202(a) and (b), 251.254, and 251.255.
(c) Each certificate for invested capital issued by a cooperative association must contain a statement of the restrictions on transferability as provided by the cooperative association's bylaws.
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.251.htm
- Text hash
- sha256 43e6dbfa75f5ed7e4124a611236e6ad65677f50006aa17995aee90b505e67f56
- 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
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.