Texas Business Organizations Code - Section 21.164. Rights Of Holders Of Fractional Shares Or Scrip
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 21.164. Rights Of Holders Of Fractional Shares Or Scrip
§ 21.164. RIGHTS OF HOLDERS OF FRACTIONAL SHARES OR
SCRIP. (a) A holder of a certificated or uncertificated fractional
share is entitled to exercise voting rights, receive distributions,
and make a claim with respect to the assets of the corporation in
the event of winding up and termination.
(b) A holder of a certificate for scrip is not entitled to
exercise voting rights, receive distributions, or make a claim with
respect to the assets of the corporation in the event of winding up
and termination unless the scrip provides for those rights.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 21.157 21.158 21.159 21.160 21.161 21.162 21.163 21.164 21.165 21.166 21.167 21.168 21.169 21.170 21.171
Last modified: August 11, 2007
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