Texas Business Organizations Code - Section 251.201. Share And Membership Certificates: Issuance And Contents
Legal Research Home >
Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 251.201. Share And Membership Certificates: Issuance And Contents
§ 251.201. SHARE AND MEMBERSHIP CERTIFICATES: ISSUANCE
AND CONTENTS. (a) A cooperative association may not issue a
certificate for membership capital or for invested capital until
any par value of the certificate has been paid in full.
(b) Each certificate for membership capital issued by a
cooperative association must contain a statement of the
requirements of Sections 251.202(a) and (b), 251.254, and 251.255.
(c) Each certificate for invested capital issued by a
cooperative association must contain a statement of the
restrictions on transferability as provided by the cooperative
association's bylaws.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 251.102 251.103 251.104 251.151 251.152 251.153 251.154 251.201 251.202 251.203 251.204 251.251 251.252 251.253 251.254
Last modified: August 11, 2007
|
