Tex. Bus. Orgs. Code § 303.004 · Chapter 303. PROVISIONS RELATING TO PROFESSIONAL CORPORATIONS
REDEMPTION OF SHARES; PRICE AND TERMS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A professional corporation may redeem shares of a shareholder, including a deceased shareholder.
(b) The price and other terms of a redemption of shares may be:
(1) agreed to between the board of directors of the professional corporation and the shareholder or the shareholder's personal representative; or
(2) specified in the governing documents of the professional corporation or an applicable agreement.
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.303.htm
- Text hash
- sha256 9b34435e90c1b5ce34c9a89afa4359485d03d5cbe2f83e4a1e650beeb5b0e8e0
- 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.