Texas Business Organizations Code - Section 21.167. Commitment To Purchase Shares
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§ 21.167. COMMITMENT TO PURCHASE SHARES. (a) A person
who contemplates the acquisition of shares in a corporation may
commit to act in a specified manner with respect to the shares after
the acquisition, including the voting of the shares or the
retention or disposition of the shares. To be binding, the
commitment must be in writing and be signed by the person acquiring
the shares.
(b) A written commitment entered into under Subsection (a)
is a contract between the shareholder and the corporation.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 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 21.173 21.201
Last modified: August 11, 2007
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