Tex. Ins. Code § 4053.110 · Subchapter C. POWERS AND DUTIES OF MANAGING GENERAL AGENTS
REDEMPTION OF CORPORATE SHARES.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
A corporation acting as a managing general agent may redeem the shares of a shareholder or a deceased shareholder:
(1) on terms agreed on by the board of directors and the shareholder or the shareholder's personal representative; or
(2) at a price and on terms provided in the articles of incorporation, the bylaws, or an existing contract entered into between the shareholders.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 7, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.4053.htm
- Text hash
- sha256 2f813a95dc8bc5ecbb1bdd746432e0310bcbbf3f457a3fe129616dfc87b7bb52
- 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.