Texas Business Organizations Code - Section 200.058. Bylaws
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Texas Laws > Business Organizations Code > Texas Business Organizations Code - Section 200.058. Bylaws
§ 200.058. BYLAWS. (a) The trust managers of a real
estate investment trust shall adopt initial bylaws.
(b) The bylaws may contain provisions for the regulation and
management of the affairs of the real estate investment trust that
are consistent with law and the real estate investment trust's
certificate of formation.
(c) The trust managers of a real estate investment trust may
amend or repeal bylaws or adopt new bylaws unless:
(1) the real estate investment trust's certificate of
formation or this chapter wholly or partly reserves the power
exclusively to the real estate investment trust's shareholders; or
(2) in amending, repealing, or adopting a bylaw, the
shareholders expressly provide that the trust managers may not
amend, repeal, or readopt that bylaw.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 200.051 200.052 200.053 200.054 200.055 200.056 200.057 200.058 200.059 200.060 200.101 200.102 200.103 200.104 200.105
Last modified: August 11, 2007
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