Texas Statutes
Subchapter O. Close Corporation
Section 21.721. Delivery of Copy of Shareholders' Agreement to Transferee

Sec. 21.721. DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE. (a) Before the transfer of shares of a close corporation in which there is a shareholders' agreement, the transferor shall deliver a complete copy of the shareholders' agreement to the transferee.
(b) If the transferor fails to deliver a complete copy of the shareholders' agreement:
(1) the validity and enforceability of the shareholders' agreement against each shareholder of the corporation, including the transferee, is not affected;
(2) the right, title, or interest of the transferee in the transferred shares is not adversely affected; and
(3) the transferee is entitled to obtain on demand from the transferor or from the close corporation a complete copy of the shareholders' agreement at the transferor's expense.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

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