Texas § AG.52.063 - ISSUANCE OF SHARES
Full text of Texas The Texas Constitution § AG.52.063 — ISSUANCE OF SHARES, with citation guidance and answers to common questions.
§ AG.52.063. ISSUANCE OF SHARES
ISSUANCE OF SHARES. (a) Subject to this section, a marketing association organized with capital stock may from time to time sell and issue shares of capital stock in the manner and under the terms prescribed by its bylaws. (b) A marketing association may issue common stock only to a person who satisfies the membership requirements prescribed by Section 52.081 of this code. (c) A marketing association may not sell and issue shares of preferred stock to a person who is not a member of the association unless the association first complies with The Securities Act (Title 12, Government Code). (d) A marketing association may not issue shares of stock to a member until the member has fully paid for the shares. (e) A marketing association may accept promissory notes of members as full or partial payment for stock. The association shall hold the stock as security for payment of the note. The association's retention of the stock does not affect the member's right to vote. Acts 1981, 67th Leg., p. 1109, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by: Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 2.01, eff. January 1, 2022.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § AG.52.063
What does The Texas Constitution § AG.52.063 cover?
Section AG.52.063 ("ISSUANCE OF 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 § AG.52.063?
A common citation format is "The Texas Constitution § AG.52.063" (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 § AG.52.063 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.