DecisionDepot
California legal research

Texas Business Organizations Code

§ 200.058 — BYLAWS

BO § 200.058Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. B. FORMATION AND GOVERNING DOCUMENTS

Statute text

View on source
(a)The trust managers of a real estate investment trust shall adopt initial bylaws.
(b)The bylaws may contain provisions for the regulation and management of the affairs of the real estate investment trust that are consistent with law and the real estate investment trust's certificate of formation.
(c)The trust managers of a real estate investment trust may amend or repeal bylaws or adopt new bylaws unless:
(1)the real estate investment trust's certificate of formation or this chapter wholly or partly reserves the power exclusively to the real estate investment trust's shareholders; or
(2)in amending, repealing, or adopting a bylaw, the shareholders expressly provide that the trust managers may not amend, repeal, or readopt that bylaw.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 200.058 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.