Texas § BO.21.167 - COMMITMENT TO PURCHASE SHARES

Full text of Texas The Texas Constitution § BO.21.167 — COMMITMENT TO PURCHASE SHARES, with citation guidance and answers to common questions.

§ BO.21.167. COMMITMENT TO PURCHASE SHARES

COMMITMENT TO PURCHASE SHARES. (a) A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares. (b) A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

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Frequently Asked Questions About Texas § BO.21.167

What does The Texas Constitution § BO.21.167 cover?

Section BO.21.167 ("COMMITMENT TO PURCHASE SHARES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Texas § BO.21.167?

A common citation format is "The Texas Constitution § BO.21.167" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § BO.21.167 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Texas.