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Texas Business Organizations Code

§ 3.205 — NOTICE FOR UNCERTIFICATED OWNERSHIP INTEREST

BO § 3.205Title 1. GENERAL PROVISIONS · Ch. 3. FORMATION AND GOVERNANCE · Art. E. CERTIFICATES REPRESENTING OWNERSHIP INTEREST

Statute text

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(a)Except as provided by Subsection (c) and in accordance with Chapter 8, Business & Commerce Code, after an issuance or transfer of an uncertificated ownership interest in a domestic entity, the owner of the ownership interest shall be notified in writing or by electronic transmission of any information required under this subchapter to be stated on a certificate representing the ownership interest.
(b)Except as otherwise expressly provided by law, the rights and obligations of the owner of an uncertificated ownership interest are the same as the rights and obligations of the owner of a certificated ownership interest of the same class and series.
(c)The owner of an uncertificated ownership interest in a domestic entity is not required to be notified under Subsection (a) if:
(1)the required information is included in the governing documents of the entity; and
(2)the owner of the uncertificated ownership interest is provided with a copy of the governing documents. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 658 (S.B. 1859), Sec. 3, eff. September 1, 2019.

Source: Texas Business Organizations Code § 3.205 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.