Texas Business Organizations Code - Section 200.164. Pledgees And Trust Administrators
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§ 200.164. PLEDGEES AND TRUST ADMINISTRATORS. (a) A
pledgee or other holder of shares as collateral security is not
personally liable as a shareholder.
(b) An executor, administrator, conservator, guardian,
trustee, assignee for the benefit of creditors, or receiver is not
personally liable as a holder of or subscriber to shares of a real
estate investment trust.
(c) The estate and funds administered by an executor,
administrator, conservator, guardian, trustee, assignee for the
benefit of creditors, or receiver are liable for the full amount of
the consideration for which the shares were or are to be issued.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 200.157 200.158 200.159 200.160 200.161 200.162 200.163 200.164 200.201 200.202 200.203 200.204 200.205 200.206 200.207
Last modified: August 11, 2007
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