Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 5. REAL ESTATE INVESTMENT TRUSTS |
Chapter 200. REAL ESTATE INVESTMENT TRUSTS |
Subchapter E. DISTRIBUTIONS AND SHARE DIVIDENDS |
Sec. 200.207. VALUE OF SHARES ISSUED AS SHARE DIVIDENDS
Latest version.
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(a) A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the shares.
(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the trust managers when the share dividend is authorized.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.