Texas § BO.200.202 - LIMITATIONS ON DISTRIBUTIONS
Full text of Texas The Texas Constitution § BO.200.202 — LIMITATIONS ON DISTRIBUTIONS, with citation guidance and answers to common questions.
§ BO.200.202. LIMITATIONS ON DISTRIBUTIONS
LIMITATIONS ON DISTRIBUTIONS. (a) A real estate investment trust may not make a distribution: (1) if the real estate investment trust would be insolvent after the distribution; or (2) that is more than the surplus of the real estate investment trust. (b) Notwithstanding Subsection (a)(2), if the net assets of a real estate investment trust are not less than the amount of the proposed distribution, the real estate investment trust may make a distribution involving a purchase or redemption of its own shares if the purchase or redemption is made by the real estate investment trust to: (1) eliminate fractional shares; (2) collect or settle indebtedness owed by or to the real estate investment trust; (3) pay dissenting shareholders entitled to receive payment for their shares under this chapter; or (4) effect the purchase or redemption of redeemable shares in accordance with this code. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Frequently Asked Questions About Texas § BO.200.202
What does The Texas Constitution § BO.200.202 cover?
Section BO.200.202 ("LIMITATIONS ON DISTRIBUTIONS") 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.200.202?
A common citation format is "The Texas Constitution § BO.200.202" (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.200.202 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.