Texas Statutes
Business Organizations Code
Title 5 - Real Estate Investment Trusts

Section 200.053. Procedures to Adopt Amendment to Certificate of Formation - Sec. 200.053. PROCEDURES TO ADOPT AMENDMENT TO CERTIFICATE OF FORMATION....

Section 200.054. Adoption of Amendment by Trust Managers - Sec. 200.054. ADOPTION OF AMENDMENT BY TRUST MANAGERS. If a...

Section 200.055. Adoption of Amendment by Shareholders - Sec. 200.055. ADOPTION OF AMENDMENT BY SHAREHOLDERS. If a real...

Section 200.056. Notice of and Meeting to Consider Proposed Amendment - Sec. 200.056. NOTICE OF AND MEETING TO CONSIDER PROPOSED AMENDMENT....

Section 200.057. Adoption of Restated Certificate of Formation - Sec. 200.057. ADOPTION OF RESTATED CERTIFICATE OF FORMATION. (a) A...

Section 200.058. Bylaws - Sec. 200.058. BYLAWS. (a) The trust managers of a real...

Section 200.060. Organization Meeting - Sec. 200.060. ORGANIZATION MEETING. (a) After the real estate investment...

Subchapter C. Shares

Section 200.101. Number - Sec. 200.101. NUMBER. A real estate investment trust may issue...

Section 200.102. Classification of Shares - Sec. 200.102. CLASSIFICATION OF SHARES. A real estate investment trust...

Section 200.103. Classes of Shares Established by Trust Managers - Sec. 200.103. CLASSES OF SHARES ESTABLISHED BY TRUST MANAGERS. (a)...

Section 200.104. Issuance of Shares - Sec. 200.104. ISSUANCE OF SHARES. (a) A real estate investment...

Section 200.105. Types of Consideration for Issuance of Shares - Sec. 200.105. TYPES OF CONSIDERATION FOR ISSUANCE OF SHARES. Shares...

Section 200.106. Determination of Consideration for Shares - Sec. 200.106. DETERMINATION OF CONSIDERATION FOR SHARES. Consideration to be...

Section 200.107. Amount of Consideration for Issuance of Shares With Par Value - Sec. 200.107. AMOUNT OF CONSIDERATION FOR ISSUANCE OF SHARES WITH...

Section 200.108. Value of Consideration - Sec. 200.108. VALUE OF CONSIDERATION. In the absence of fraud...

Section 200.109. Liability of Assignee or Transferee - Sec. 200.109. LIABILITY OF ASSIGNEE OR TRANSFEREE. An assignee or...

Section 200.110. Subscriptions - Sec. 200.110. SUBSCRIPTIONS. (a) A real estate investment trust may...

Section 200.111. Preformation Subscription - Sec. 200.111. PREFORMATION SUBSCRIPTION. (a) A real estate investment trust...

Section 200.112. Commitment in Connection With Purchase of Shares - Sec. 200.112. COMMITMENT IN CONNECTION WITH PURCHASE OF SHARES. (a)...

Section 200.113. Supplemental Required Records - Sec. 200.113. SUPPLEMENTAL REQUIRED RECORDS. In addition to the books...

Subchapter D. Shareholder Rights and Restrictions

Section 200.151. Registered Holders as Owners - Sec. 200.151. REGISTERED HOLDERS AS OWNERS. Except as otherwise provided...

Section 200.152. No Statutory Preemptive Right Unless Specifically Provided by Certificate of Formation - Sec. 200.152. NO STATUTORY PREEMPTIVE RIGHT UNLESS SPECIFICALLY PROVIDED BY...

Section 200.153. Characterization and Transfer of Shares and Other Securities - Sec. 200.153. CHARACTERIZATION AND TRANSFER OF SHARES AND OTHER SECURITIES....

Section 200.154. Restriction on Transfer of Shares and Other Securities - Sec. 200.154. RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES....

Section 200.155. Valid Restriction on Transfer - Sec. 200.155. VALID RESTRICTION ON TRANSFER. Notwithstanding Sections 200.154 and...

Section 200.156. Bylaw or Agreement Restricting Transfer of Shares or Other Securities - Sec. 200.156. BYLAW OR AGREEMENT RESTRICTING TRANSFER OF SHARES OR...

Section 200.157. Enforceability of Restriction on Transfer of Certain Securities - Sec. 200.157. ENFORCEABILITY OF RESTRICTION ON TRANSFER OF CERTAIN SECURITIES....

Section 200.158. Joint Ownership of Shares - Sec. 200.158. JOINT OWNERSHIP OF SHARES. (a) If shares are...

Section 200.159. Liability for Designating Owner of Shares - Sec. 200.159. LIABILITY FOR DESIGNATING OWNER OF SHARES. A real...

Section 200.160. Liability Regarding Joint Ownership of Shares - Sec. 200.160. LIABILITY REGARDING JOINT OWNERSHIP OF SHARES. A real...

Section 200.161. Limitation of Liability for Obligations - Sec. 200.161. LIMITATION OF LIABILITY FOR OBLIGATIONS. (a) A holder...

Section 200.162. Preemption of Liability - Sec. 200.162. PREEMPTION OF LIABILITY. The liability of a holder,...

Section 200.163. Exceptions to Limitations - Sec. 200.163. EXCEPTIONS TO LIMITATIONS. Section 200.161 or 200.162 does...

Section 200.164. Pledgees and Trust Administrators - Sec. 200.164. PLEDGEES AND TRUST ADMINISTRATORS. (a) A pledgee or...

Subchapter E. Distributions and Share Dividends

Section 200.201. Authority for Distributions - Sec. 200.201. AUTHORITY FOR DISTRIBUTIONS. The trust managers of a...

Section 200.202. Limitations on Distributions - Sec. 200.202. LIMITATIONS ON DISTRIBUTIONS. (a) A real estate investment...

Section 200.203. Priority of Distributions - Sec. 200.203. PRIORITY OF DISTRIBUTIONS. A real estate investment trust's...

Section 200.204. Reserves, Designations, and Allocations From Surplus - Sec. 200.204. RESERVES, DESIGNATIONS, AND ALLOCATIONS FROM SURPLUS. (a) A...

Section 200.205. Authority for Share Dividends - Sec. 200.205. AUTHORITY FOR SHARE DIVIDENDS. The trust managers of...

Section 200.206. Limitations on Share Dividends - Sec. 200.206. LIMITATIONS ON SHARE DIVIDENDS. (a) A real estate...

Section 200.207. Value of Shares Issued as Share Dividends - Sec. 200.207. VALUE OF SHARES ISSUED AS SHARE DIVIDENDS. (a)...

Section 200.208. Transfer of Surplus for Share Dividends - Sec. 200.208. TRANSFER OF SURPLUS FOR SHARE DIVIDENDS. (a) When...

Section 200.209. Determination of Solvency, Net Assets, Stated Capital, and Surplus - Sec. 200.209. DETERMINATION OF SOLVENCY, NET ASSETS, STATED CAPITAL, AND...

Section 200.210. Date of Determination of Surplus - Sec. 200.210. DATE OF DETERMINATION OF SURPLUS. (a) For purposes...

Section 200.211. Split-Up or Division of Shares - Sec. 200.211. SPLIT-UP OR DIVISION OF SHARES. The trust managers...

Subchapter F. Shareholders' Meetings; Voting and Quorum

Section 200.251. Annual Meeting - Sec. 200.251. ANNUAL MEETING. (a) An annual meeting of the...

Section 200.252. Special Meetings - Sec. 200.252. SPECIAL MEETINGS. A special meeting of the shareholders...

Section 200.253. Notice of Meeting - Sec. 200.253. NOTICE OF MEETING. (a) Written notice of a...

Section 200.254. Closing of Share Transfer Records - Sec. 200.254. CLOSING OF SHARE TRANSFER RECORDS. Share transfer records...

Section 200.255. Record Date for Written Consent to Action - Sec. 200.255. RECORD DATE FOR WRITTEN CONSENT TO ACTION. The...

Section 200.256. Record Date for Purpose Other Than Written Consent to Action - Sec. 200.256. RECORD DATE FOR PURPOSE OTHER THAN WRITTEN CONSENT...

Section 200.257. Quorum - Sec. 200.257. QUORUM. (a) Subject to Subsection (b), the holders...

Section 200.258. Voting in Election of Trust Managers - Sec. 200.258. VOTING IN ELECTION OF TRUST MANAGERS. (a) Subject...

Section 200.259. Cumulative Voting in Election of Trust Managers - Sec. 200.259. CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS. (a)...

Section 200.260. Voting on Matters Other Than Election of Trust Managers - Sec. 200.260. VOTING ON MATTERS OTHER THAN ELECTION OF TRUST...

Section 200.261. Vote Required to Approve Fundamental Action - Sec. 200.261. VOTE REQUIRED TO APPROVE FUNDAMENTAL ACTION. (a) In...

Section 200.262. Changes in Vote Required for Certain Matters - Sec. 200.262. CHANGES IN VOTE REQUIRED FOR CERTAIN MATTERS. (a)...

Section 200.263. Number of Votes per Share - Sec. 200.263. NUMBER OF VOTES PER SHARE. (a) Except as...

Section 200.264. Voting in Person or by Proxy - Sec. 200.264. VOTING IN PERSON OR BY PROXY. (a) A...

Section 200.265. Term of Proxy - Sec. 200.265. TERM OF PROXY. A proxy is not valid...

Section 200.266. Revocability of Proxy - Sec. 200.266. REVOCABILITY OF PROXY. (a) In this section, a...

Section 200.267. Enforceability of Proxy - Sec. 200.267. ENFORCEABILITY OF PROXY. (a) An irrevocable proxy is...

Section 200.268. Procedures in Bylaws Relating to Proxies - Sec. 200.268. PROCEDURES IN BYLAWS RELATING TO PROXIES. A real...

Subchapter G. Trust Managers

Section 200.301. Management by Trust Managers - Sec. 200.301. MANAGEMENT BY TRUST MANAGERS. The control, operation, disposition,...

Section 200.302. Designation of Trust Managers - Sec. 200.302. DESIGNATION OF TRUST MANAGERS. (a) The certificate of...

Section 200.303. Trust Manager Eligibility Requirements - Sec. 200.303. TRUST MANAGER ELIGIBILITY REQUIREMENTS. A trust manager of...

Section 200.304. Number of Trust Managers - Sec. 200.304. NUMBER OF TRUST MANAGERS. (a) The certificate of...

Section 200.305. Compensation - Sec. 200.305. COMPENSATION. A trust manager or officer of a...

Section 200.306. Term of Trust Manager - Sec. 200.306. TERM OF TRUST MANAGER. (a) Except as provided...

Section 200.307. Staggered Terms of Trust Managers - Sec. 200.307. STAGGERED TERMS OF TRUST MANAGERS. (a) A governing...

Section 200.308. Vacancy - Sec. 200.308. VACANCY. (a) Except as provided by Subsection (b),...

Section 200.309. Notice of Meeting - Sec. 200.309. NOTICE OF MEETING. (a) Regular meetings of the...

Section 200.310. Quorum - Sec. 200.310. QUORUM. A quorum of the board of trust...

Section 200.311. Committees of Trust Managers - Sec. 200.311. COMMITTEES OF TRUST MANAGERS. (a) If authorized by...

Section 200.312. Liability of Trust Managers - Sec. 200.312. LIABILITY OF TRUST MANAGERS. (a) A trust manager...

Section 200.313. Statute of Limitations on Certain Action Against Trust Managers - Sec. 200.313. STATUTE OF LIMITATIONS ON CERTAIN ACTION AGAINST TRUST...

Section 200.314. Immunity From Liability for Performance of Duty - Sec. 200.314. IMMUNITY FROM LIABILITY FOR PERFORMANCE OF DUTY. A...

Section 200.315. Right of Contribution - Sec. 200.315. RIGHT OF CONTRIBUTION. A trust manager who is...

Section 200.316. Officers - Sec. 200.316. OFFICERS. (a) An officer of a real estate...

Section 200.317. Contracts or Transactions Involving Interested Trust Managers and Officers - Sec. 200.317. CONTRACTS OR TRANSACTIONS INVOLVING INTERESTED TRUST MANAGERS AND...

Subchapter H. Investments

Section 200.351. Investments - Sec. 200.351. INVESTMENTS. A trust manager or officer of a...

Subchapter I. Fundamental Business Transactions

Section 200.401. Definitions - Sec. 200.401. DEFINITIONS. In this subchapter: (1) "Participating shares" means...

Section 200.402. Approval of Merger - Sec. 200.402. APPROVAL OF MERGER. (a) A real estate investment...

Section 200.403. Approval of Conversion - Sec. 200.403. APPROVAL OF CONVERSION. (a) A real estate investment...

Section 200.404. Approval of Exchange - Sec. 200.404. APPROVAL OF EXCHANGE. (a) A real estate investment...

Section 200.405. Approval of Sale of All or Substantially All of Assets - Sec. 200.405. APPROVAL OF SALE OF ALL OR SUBSTANTIALLY ALL...

Section 200.406. General Procedure for Submission to Shareholders of Fundamental Business Transaction - Sec. 200.406. GENERAL PROCEDURE FOR SUBMISSION TO SHAREHOLDERS OF FUNDAMENTAL...

Section 200.407. General Vote Requirement for Approval of Fundamental Business Transaction - Sec. 200.407. GENERAL VOTE REQUIREMENT FOR APPROVAL OF FUNDAMENTAL BUSINESS...

Section 200.408. Class Voting Requirements for Certain Fundamental Business Transactions - Sec. 200.408. CLASS VOTING REQUIREMENTS FOR CERTAIN FUNDAMENTAL BUSINESS TRANSACTIONS....

Section 200.409. No Shareholder Vote Requirement for Certain Fundamental Business Transactions - Sec. 200.409. NO SHAREHOLDER VOTE REQUIREMENT FOR CERTAIN FUNDAMENTAL BUSINESS...

Section 200.410. Rights of Dissent and Appraisal - Sec. 200.410. RIGHTS OF DISSENT AND APPRAISAL. A shareholder of...

Subchapter J. Supplemental Winding Up and Termination Provisions

Section 200.451. Approval of Voluntary Winding Up - Sec. 200.451. APPROVAL OF VOLUNTARY WINDING UP. A real estate...

Section 200.452. Approval of Reinstatement, Cancellation, or Revocation of Voluntary Winding Up - Sec. 200.452. APPROVAL OF REINSTATEMENT, CANCELLATION, OR REVOCATION OF VOLUNTARY...

Section 200.453. Responsibility for Winding Up - Sec. 200.453. RESPONSIBILITY FOR WINDING UP. If a real estate...

Subchapter K. Miscellaneous Provisions

Section 200.501. Examination of Records - Sec. 200.501. EXAMINATION OF RECORDS. (a) On written demand stating...

Section 200.502. Joinder of Shareholders Not Required - Sec. 200.502. JOINDER OF SHAREHOLDERS NOT REQUIRED. The joinder of...

Section 200.503. Tax Law Requirements - Sec. 200.503. TAX LAW REQUIREMENTS. In connection with a real...

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Texas Statutes Business Organizations Code Title 5 - Real Estate Investment Trusts

Texas Statutes
Business Organizations Code
Title 5 - Real Estate Investment Trusts