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Texas Business Organizations Code

§ 200.305 — COMPENSATION

BO § 200.305Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. G. TRUST MANAGERS

Statute text

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A trust manager or officer of a real estate investment trust is entitled to receive compensation set by or in the manner provided by the certificate of formation or bylaws of the real estate investment trust. If the certificate of formation or bylaws do not provide for compensation to trust managers and officers, the trust managers of the real estate investment trust must determine the compensation by vote at a meeting or by written consent.

Legislative history

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

Source: Texas Business Organizations Code § 200.305 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.