Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 5. REAL ESTATE INVESTMENT TRUSTS |
Chapter 200. REAL ESTATE INVESTMENT TRUSTS |
Subchapter C. SHARES |
Sec. 200.105. TYPES OF CONSIDERATION FOR ISSUANCE OF SHARES
Latest version.
-
Shares with or without par value may be issued by a real estate investment trust for the following types of consideration:
(1) a tangible or intangible benefit to the real estate investment trust;
(2) cash;
(3) a promissory note;
(4) services performed or a contract for services to be performed;
(5) a security of the real estate investment trust or any other organization; and
(6) any other property of any kind or nature.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.