Texas Business Organizations Code - Section 3.055. Supplemental Provisions For Certificate Of Amendment Of Real Estate Investment Trust
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§ 3.055. SUPPLEMENTAL PROVISIONS FOR CERTIFICATE OF
AMENDMENT OF REAL ESTATE INVESTMENT TRUST. (a) In addition to the
statements required by Section 3.053, a certificate of amendment
for a real estate investment trust must state:
(1) if the amendment provides for an exchange,
reclassification, or cancellation of issued shares, the manner in
which the exchange, reclassification, or cancellation of the issued
shares will be effected if the manner is not specified in the
amendment; and
(2) if the amendment effects a change in the amount of
stated capital, the manner in which the change in the amount of
stated capital is effected and the amount of stated capital
expressed in dollar terms as changed by the amendment.
(b) If shares of the real estate investment trust have not
been issued and the certificate of amendment is adopted by the trust
managers, a majority of the trust managers may execute the
certificate of amendment on behalf of the real estate investment
trust.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 3.013 3.014 3.015 3.051 3.052 3.053 3.054 3.055 3.056 3.057 3.058 3.059 3.060 3.061 3.062
Last modified: August 11, 2007
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