Texas Business Organizations Code - Section 21.461. Pledge, Mortgage, Deed Of Trust, Or Trust Indenture
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Texas Laws > Business Organizations Code > Texas Business Organizations Code - Section 21.461. Pledge, Mortgage, Deed Of Trust, Or Trust Indenture
§ 21.461. PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST
INDENTURE. Except as provided by the corporation's certificate of
formation:
(1) the board of directors of a corporation may
authorize a pledge, mortgage, deed of trust, or trust indenture;
and
(2) an authorization or consent of shareholders is not
required for the validity of the transaction or for any sale under
the terms of the transaction.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 21.454 21.455 21.456 21.457 21.458 21.459 21.460 21.461 21.462 21.501 21.502 21.503 21.504 21.551 21.552
Last modified: August 11, 2007
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