Sec. 200.109. LIABILITY OF ASSIGNEE OR TRANSFEREE. An assignee or transferee of certificated shares, uncertificated shares, or a subscription for shares in good faith and without knowledge that full consideration for the shares or subscription has not been paid may not be held personally liable to the real estate investment trust or a creditor of the real estate investment trust for an unpaid portion of the consideration.
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
Section 200.102. Classification of Shares
Section 200.103. Classes of Shares Established by Trust Managers
Section 200.104. Issuance of Shares
Section 200.105. Types of Consideration for Issuance of Shares
Section 200.106. Determination of Consideration for Shares
Section 200.107. Amount of Consideration for Issuance of Shares With Par Value
Section 200.108. Value of Consideration
Section 200.109. Liability of Assignee or Transferee
Section 200.110. Subscriptions
Section 200.111. Preformation Subscription
Section 200.112. Commitment in Connection With Purchase of Shares