Sec. 200.211. SPLIT-UP OR DIVISION OF SHARES. The trust managers of a real estate investment trust may authorize the real estate investment trust to carry out any split-up or division of the issued shares of a class of the real estate investment trust into a larger number of shares within the same class that does not increase the stated capital of the real estate investment trust because the split-up or division of issued shares is not a share dividend or a distribution.
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 E. Distributions and Share Dividends
Section 200.201. Authority for Distributions
Section 200.202. Limitations on Distributions
Section 200.203. Priority of Distributions
Section 200.204. Reserves, Designations, and Allocations From Surplus
Section 200.205. Authority for Share Dividends
Section 200.206. Limitations on Share Dividends
Section 200.207. Value of Shares Issued as Share Dividends
Section 200.208. Transfer of Surplus for Share Dividends
Section 200.209. Determination of Solvency, Net Assets, Stated Capital, and Surplus