Tex. Business Organizations Code § 200.154
RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES
Texas · Texas Business Organizations Code · Status: effective
Cite this
- Citation
- Tex. Business Organizations Code § 200.154, RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584240
- Permanent ID
ys:prov:584240@1- SHA-256
8adbb098f34678e4d3d380e6d2298a1ca23328b8dbbf13691b4099a36fd8e84f
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A restriction on the transfer or registration of transfer of a security may be imposed by:
(1) the real estate investment trust's certificate of formation;
(2) the real estate investment trust's bylaws;
(3) a written agreement among two or more holders of the securities; or
(4) a written agreement among one or more holders of the securities and the real estate investment trust if:
(A) the real estate investment trust files a copy of the agreement at the principal place of business or registered office of the real estate investment trust; and
(B) the copy of the agreement is subject to the same right of examination by a shareholder of the real estate investment trust, in person or by agent, attorney, or accountant, as the books and records of the real estate investment trust.
(b) A restriction imposed under Subsection (a) is not valid with respect to a security issued before the restriction has been adopted, unless the holder of the security voted in favor of the restriction or is a party to the agreement imposing the restriction.