Sec. 200.112. COMMITMENT IN CONNECTION WITH PURCHASE OF SHARES. (a) A person who contemplates the acquisition of shares in a real estate investment trust may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.
(b) A written commitment entered into under Subsection (a) is a contract between the shareholder and 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
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