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Texas Business Organizations Code

§ 200.402 — APPROVAL OF MERGER

BO § 200.402Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. I. FUNDAMENTAL BUSINESS TRANSACTIONS

Statute text

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(a)A real estate investment trust that is a party to the merger under Chapter 10 must approve the merger by complying with this section.
(b)The trust managers of the real estate investment trust shall adopt a resolution that:
(1)approves the plan of merger; and
(2)if shareholder approval of the merger is required by this subchapter:
(A)recommends that the plan of merger be approved by the shareholders of the real estate investment trust; or
(B)directs that the plan of merger be submitted to the shareholders for approval without recommendation if the trust managers determine for any reason not to recommend approval of the plan of merger.
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Legislative history

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

Source: Texas Business Organizations Code § 200.402 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.