Texas Business Organizations Code
§ 200.408 — CLASS VOTING REQUIREMENTS FOR CERTAIN FUNDAMENTAL BUSINESS TRANSACTIONS
BO § 200.408Title 5. REAL ESTATE INVESTMENT TRUSTS · Ch. 200. REAL ESTATE INVESTMENT TRUSTS · Art. I. FUNDAMENTAL BUSINESS TRANSACTIONS
Statute text
View on source(a)Separate voting by a class or series of shares of a real estate investment trust is required for approval of a plan of merger or conversion if:
(1)the plan of merger or conversion contains a provision that would require approval by that class or series of shares under Section 200.262 if the provision was contained in a proposed amendment to the real estate investment trust's certificate of formation; or
(2)that class or series of shares is entitled under the certificate of formation to vote as a class or series on the plan of merger or conversion.
(b)Separate voting by a class or series of shares of a real estate investment trust is required for approval of a plan of exchange if:
(1)shares of that class or series are to be exchanged under the terms of the plan of exchange; or
(2)that class or series is entitled under the certificate of formation to vote as a class or series on the plan of exchange.
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Legislative history
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.