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Texas Business Organizations Code

§ 200.207 — VALUE OF SHARES ISSUED AS SHARE DIVIDENDS

BO § 200.207Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. E. DISTRIBUTIONS AND SHARE DIVIDENDS

Statute text

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(a)A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the shares.
(b)A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the trust managers when the share dividend is authorized.

Legislative history

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

Source: Texas Business Organizations Code § 200.207 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.