Texas Business Organizations Code - Section 3.012. Supplemental Provisions Required In Certificate Of Formation Of Real Estate Investment Trust

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§ 3.012. SUPPLEMENTAL PROVISIONS REQUIRED IN CERTIFICATE 
OF FORMATION OF REAL ESTATE INVESTMENT TRUST.  In addition to the 
information required by Section 3.005, the certificate of formation 
of a real estate investment trust must state:
		(1)  that an assumed name certificate stating the name 
of the real estate investment trust has been filed in the manner 
provided by law;
		(2)  that the purpose of the real estate investment 
trust is to:            
			(A)  purchase, hold, lease, manage, sell, 
exchange, develop, subdivide, and improve real property and 
interests in real property, other than severed mineral, oil, or gas 
royalty interests, and carry on any other business and perform any 
other action in connection with a purpose described by this 
paragraph;
			(B)  exercise powers conferred by the laws of this 
state on a real estate investment trust;  and
			(C)  perform any action described by Chapter 200 
or Title 1 to the same extent as an individual;
		(3)  the post office address of the initial principal 
office and place of business of the real estate investment trust;
		(4)  the aggregate number of shares of beneficial 
interest the real estate investment trust is authorized to issue 
and the par value to be received by the real estate investment trust 
for the issuance of each share;
		(5)  if shares described by Subdivision (4) are divided 
into classes as authorized by Section 200.102 or 200.103, a 
description of each class of shares, including any preferences, 
conversion and other rights, voting powers, restrictions, 
limitations as to dividends, qualifications, and terms and 
conditions of redemption;  and
		(6)  that the trust managers shall manage the money or 
property received for the issuance of shares for the benefit of the 
shareholders of the real estate investment trust.

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 10, 2007