Sec. 200.054. ADOPTION OF AMENDMENT BY TRUST MANAGERS. If a real estate investment trust does not have any issued and outstanding shares, the trust managers may adopt a proposed amendment to the real estate investment trust's certificate of formation by resolution without shareholder approval.
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