Texas Business Organizations Code § 21.461 Pledge, Mortgage, Deed Of Trust, Or Trust Indenture

Sec. 21.461. PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE. Except as provided by the corporation's certificate of formation:

(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and

(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.

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

Section: Previous  21.454  21.455  21.456  21.457  21.458  21.459  21.460  21.461  21.462  21.501  21.502  21.503  21.504  21.551  21.552  Next

Last modified: September 28, 2016