Texas § BO.21.171 - OUTSTANDING OR TREASURY SHARES
Full text of Texas The Texas Constitution § BO.21.171 — OUTSTANDING OR TREASURY SHARES, with citation guidance and answers to common questions.
§ BO.21.171. OUTSTANDING OR TREASURY SHARES
OUTSTANDING OR TREASURY SHARES. (a) Shares that are issued are outstanding shares unless the shares are treasury shares or are canceled. (b) If there are outstanding shares, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation on the winding up and termination of the corporation must be outstanding shares. (c) Treasury shares are considered to be issued shares and not outstanding shares. (d) Treasury shares may not be included in the total assets of a corporation for purposes of determining the net assets of a corporation. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 32, eff. September 1, 2009.
Frequently Asked Questions About Texas § BO.21.171
What does The Texas Constitution § BO.21.171 cover?
Section BO.21.171 ("OUTSTANDING OR TREASURY 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.21.171?
A common citation format is "The Texas Constitution § BO.21.171" (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.21.171 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.