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Texas Business Organizations Code - Section 303.004. Redemption Of Shares; Price And Terms

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 303.004. Redemption Of Shares; Price And Terms

§ 303.004. REDEMPTION OF SHARES;  PRICE AND TERMS.  (a) A 
professional corporation may redeem shares of a shareholder, 
including a deceased shareholder.
	(b)  The price and other terms of a redemption of shares may 
be:             
		(1)  agreed to between the board of directors of the 
professional corporation and the shareholder or the shareholder's 
personal representative;  or
		(2)  specified in the governing documents of the 
professional corporation or an applicable agreement.

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

Last modified: August 11, 2007