Texas Business Organizations Code - Section 3.205. Notice For Uncertificated Ownership Interest
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§ 3.205. NOTICE FOR UNCERTIFICATED OWNERSHIP
INTEREST. (a) Except as provided by Subsection (c) and in
accordance with Chapter 8, Business & Commerce Code, after issuing
or transferring an uncertificated ownership interest, a domestic
entity shall notify the owner of the ownership interest in writing
of any information required under this subchapter to be stated on a
certificate representing the ownership interest.
(b) Except as otherwise expressly provided by law, the
rights and obligations of the owner of an uncertificated ownership
interest are the same as the rights and obligations of the owner of
a certificated ownership interest of the same class and series.
(c) A domestic entity is not required to send a notice under
Subsection (a) if:
(1) the required information is included in the
governing documents of the entity; and
(2) the owner of the uncertificated ownership interest
is provided with a copy of the governing documents.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 3.151 3.152 3.153 3.201 3.202 3.203 3.204 3.205 4.001 4.002 4.003 4.004 4.005 4.006 4.007
Last modified: August 11, 2007
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