Texas § BO.200.102 - CLASSIFICATION OF SHARES
Full text of Texas The Texas Constitution § BO.200.102 — CLASSIFICATION OF SHARES, with citation guidance and answers to common questions.
§ BO.200.102. CLASSIFICATION OF SHARES
CLASSIFICATION OF SHARES. A real estate investment trust may provide in the real estate investment trust's certificate of formation: (1) that a specified class of shares is preferred over another class of shares as to its distributive share of the assets on voluntary or involuntary liquidation of the real estate investment trust; (2) the amount of a preference described by Subdivision (1); (3) that a specified class of shares may be redeemed at the option of the real estate investment trust or of the holders of the shares; (4) the terms and conditions of a redemption of shares described by Subdivision (3), including the time and price of redemption; (5) that a specified class of shares may be converted into shares of one or more other classes; (6) the terms and conditions of a conversion described by Subdivision (5); (7) that a holder of a specified security issued or to be issued by the real estate investment trust has voting or other rights authorized by law; and (8) for other preferences, rights, restrictions, including restrictions on transferability, and qualifications consistent with law. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.200.102
What does The Texas Constitution § BO.200.102 cover?
Section BO.200.102 ("CLASSIFICATION 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 § BO.200.102?
A common citation format is "The Texas Constitution § BO.200.102" (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.200.102 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.