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Tex. Business Organizations Code § 200.204

RESERVES, DESIGNATIONS, AND ALLOCATIONS FROM SURPLUS

Texas · Texas Business Organizations Code · Status: effective

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Tex. Business Organizations Code § 200.204, RESERVES, DESIGNATIONS, AND ALLOCATIONS FROM SURPLUS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584255
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(a) A real estate investment trust, by resolution of the trust managers of the real estate investment trust, may: (1) create a reserve out of the surplus of the real estate investment trust; or (2) designate or allocate in any manner a part or all of the real estate investment trust's surplus for a proper purpose. (b) A real estate investment trust may increase, decrease, or abolish a reserve, designation, or allocation in the manner provided by Subsection (a).