Texas Business Organizations Code
§ 200.251 — ANNUAL MEETING
BO § 200.251Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. F. SHAREHOLDERS' MEETINGS; VOTING AND QUORUM
Statute text
View on source(a)An annual meeting of the shareholders of a real estate investment trust shall be held at a time that is stated in or set in accordance with the bylaws of the real estate investment trust.
(b)If the annual meeting is not held at the designated time, a shareholder may make a written request to an officer or trust manager of the real estate investment trust that the meeting be held within a reasonable time. The request calling for the meeting must be made by:
(1)certified or registered mail, return receipt requested; or
(2)other means specified in the real estate investment trust's governing documents. (b-1) If the annual meeting is not called before the 61st day after the date the written request calling for a meeting is made under Subsection (b), any shareholder may bring suit at law or in equity to compel the meeting to be held.
(c)Each shareholder has a justifiable interest sufficient to enable the shareholder to institute and prosecute a legal proceeding described by this section.
(d)The failure to hold an annual meeting at the designated time does not result in the winding up or termination of the real estate investment trust. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:
Legislative history
Acts 2017, 85th Leg., R.S., Ch. 75 (S.B. 1518), Sec. 31, eff. September 1, 2017.