81st Texas Legislature, Regular Session, Senate Bill 1442, Chapter 84 Page: 24 of 64
The following text was automatically extracted from the image on this page using optical character recognition software:
S.B. No. 1442
1 outstanding shares.
2 (c) Treasury shares are considered to be issued shares and
3 not outstanding shares.
4 (d) 14.] Treasury shares may not be included in the total
5 assets of a corporation for purposes of determining the net assets
6 of a corporation.
7 SECTION 33. Section 21.201, Business Organizations Code, is
8 amended to read as follows:
9 Sec. 21.201. REGISTERED HOLDERS AS OWNERS; SHARES HELD BY
10 NOMINEES. (a) Except as otherwise provided by this code and
11 subject to Chapter 8, Business & Commerce Code, a corporation may
12 consider the person registered as the owner of a share in the share
13 transfer records of the corporation at a particular time, including
14 a record date set under Section 6.101 or 6.102 or Subchapter H, as
15 the owner of that share at that time for purposes of:
16 (1) voting the share;
17 (2) receiving distributions on the share;
18 (3) transferring the share;
19 (4) receiving notice, exercising rights of dissent,
20 exercising or waiving a preemptive right, or giving proxies with
21 respect to that share;
22 (5) entering into agreements with respect to that
23 share in accordance with Section 6.251, 6.252, or 21.210; or
24 (6) any other shareholder action.
25 ,(b) A corporation may establish a procedure by which the
26 corporation recognizes as a shareholder the beneficial owner of
27 shares registered in the name of a nominee.
Here’s what’s next.
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1442, Chapter 84, legislative document, May 20, 2009; [Austin, Texas]. (texashistory.unt.edu/ark:/67531/metapth310916/m1/24/: accessed October 17, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; crediting UNT Libraries Government Documents Department.