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Texas Business Organizations Code - Section 21.159. Types Of Consideration For Shares

Legal Research Home > Texas Lawyer > 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.                     

Last modified: August 11, 2007