Sec. 200.052. NO PROPERTY RIGHT IN CERTIFICATE OF FORMATION. A shareholder of a real estate investment trust does not have a vested property right resulting from the certificate of formation, including a provision in the certificate of formation relating to the management, control, capital structure, dividend entitlement, purpose, or duration of the real estate investment trust.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Title 5 - Real Estate Investment Trusts
Chapter 200 - Real Estate Investment Trusts
Subchapter B. Formation and Governing Documents
Section 200.051. Declaration of Trust
Section 200.052. No Property Right in Certificate of Formation
Section 200.053. Procedures to Adopt Amendment to Certificate of Formation
Section 200.054. Adoption of Amendment by Trust Managers
Section 200.055. Adoption of Amendment by Shareholders
Section 200.056. Notice of and Meeting to Consider Proposed Amendment
Section 200.057. Adoption of Restated Certificate of Formation