Tex. Business Organizations Code § 200.208
TRANSFER OF SURPLUS FOR SHARE DIVIDENDS
Texas · Texas Business Organizations Code · Status: effective
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- Citation
- Tex. Business Organizations Code § 200.208, TRANSFER OF SURPLUS FOR SHARE DIVIDENDS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/584259
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Full text
(a) When a share dividend payable in authorized but unissued shares with par value is made by a real estate investment trust, an amount of surplus designated by the trust managers that is not less than the aggregate par value of the shares issued as a share dividend shall be transferred to stated capital.
(b) When a share dividend payable in authorized but unissued shares without par value is made by a real estate investment trust, an amount of surplus equal to the aggregate value set by the trust managers with respect to the shares under Section 200.207(b) shall be transferred to stated capital.