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Texas Business Organizations Code

§ 21.172 — EXPENSES OF ORGANIZATION, REORGANIZATION, AND FINANCING OF CORPORATION

BO § 21.172Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. D. SHARES, OPTIONS, AND CONVERTIBLE SECURITIES

Statute text

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A corporation may pay or authorize to be paid from the consideration received by the corporation as payment for the corporation's shares the reasonable charges and expenses of the organization or reorganization of the corporation and the sale or underwriting of the shares without rendering the shares not fully paid and nonassessable.

Legislative history

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

Source: Texas Business Organizations Code § 21.172 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.