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Texas Business Organizations Code - Section 21.207. Disposition Of Shares Having Preemptive Rights

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 21.207. Disposition Of Shares Having Preemptive Rights

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§ 21.207. DISPOSITION OF SHARES HAVING PREEMPTIVE RIGHTS. The transferee or successor of a share that has been transferred or otherwise disposed of by a shareholder of a corporation whose preemptive right to acquire shares in the corporation has been violated does not acquire the preemptive right, or any right or claim based on the violation, unless the previous shareholder has assigned the preemptive right to the transferee or successor. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007