Texas Business Organizations Code - Section 21.152. Classes And Series Of Shares
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§ 21.152. CLASSES AND SERIES OF SHARES. (a) A
corporation's certificate of formation may divide the corporation's
authorized shares into one or more classes and may divide one or
more classes into one or more series. The certificate of formation
must designate each class and series of authorized shares to
distinguish that class and series from any other class or series.
(b) Shares of the same class must be of the same par value or
be without par value, as stated in the certificate of formation.
(c) Shares of the same class must be identical in all
respects unless the shares have been divided into one or more
series. If the shares of a class have been divided into one or more
series, the shares may vary between series, but all shares of the
same series will be identical in all respects.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 21.104 21.105 21.106 21.107 21.108 21.109 21.151 21.152 21.153 21.154 21.155 21.156 21.157 21.158 21.159
Last modified: August 11, 2007
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