Texas Business Organizations Code - Section 21.165. Subscriptions
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§ 21.165. SUBSCRIPTIONS. (a) A corporation may accept a
subscription by notifying the subscriber in writing.
(b) A subscription to purchase shares in a corporation in
the process of being formed is irrevocable for six months if the
subscription is in writing and signed by the subscriber, unless the
subscription provides for a longer or shorter period or all of the
other subscribers agree to the revocation of the subscription.
(c) A written subscription entered into after the
corporation is formed is a contract between the subscriber and the
corporation.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 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 21.172
Last modified: August 11, 2007
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