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Texas Business Organizations Code

§ 21.159 — TYPES OF CONSIDERATION FOR SHARES

BO § 21.159Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES

Statute text

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Shares with or without par value may be issued for the following types of consideration:
(1)a tangible or intangible benefit to the corporation;
(2)cash;
(3)a promissory note;
(4)services performed or a contract for services to be performed;
(5)a security of the corporation or any other organization; and
…

Legislative history

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

Source: Texas Business Organizations Code § 21.159 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.