Sec. 200.162. PREEMPTION OF LIABILITY. The liability of a holder, beneficial owner, or subscriber of shares of a real estate investment trust for an obligation that is limited by Section 200.161 is exclusive and preempts any other liability imposed for that obligation under common law or otherwise.
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 D. Shareholder Rights and Restrictions
Section 200.151. Registered Holders as Owners
Section 200.153. Characterization and Transfer of Shares and Other Securities
Section 200.154. Restriction on Transfer of Shares and Other Securities
Section 200.155. Valid Restriction on Transfer
Section 200.156. Bylaw or Agreement Restricting Transfer of Shares or Other Securities
Section 200.157. Enforceability of Restriction on Transfer of Certain Securities
Section 200.158. Joint Ownership of Shares
Section 200.159. Liability for Designating Owner of Shares
Section 200.160. Liability Regarding Joint Ownership of Shares
Section 200.161. Limitation of Liability for Obligations
Section 200.162. Preemption of Liability