Texas Business Organizations Code - Section 21.159. Types Of Consideration For Shares
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Texas Laws > Business Organizations Code > Texas Business Organizations Code - Section 21.159. Types Of Consideration For Shares
§ 21.159. TYPES OF CONSIDERATION FOR SHARES. Shares with
or without par value may be issued for the following types of
consideration:
(1) a tangible or intangible benefit to the
corporation;
(2) cash;
(3) a promissory note;
(4) services performed or a contract for services to
be performed;
(5) a security of the corporation or any other
organization; and
(6) any other property of any kind or nature.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 21.152 21.153 21.154 21.155 21.156 21.157 21.158 21.159 21.160 21.161 21.162 21.163 21.164 21.165 21.166
Last modified: August 11, 2007
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