Texas § BO.21.160 - DETERMINATION OF CONSIDERATION FOR SHARES
Full text of Texas The Texas Constitution § BO.21.160 — DETERMINATION OF CONSIDERATION FOR SHARES, with citation guidance and answers to common questions.
§ BO.21.160. DETERMINATION OF CONSIDERATION FOR SHARES
DETERMINATION OF CONSIDERATION FOR SHARES. (a) Subject to Subsection (b) and Section 21.157 , consideration to be received for shares must be determined: (1) by the board of directors; (2) by a plan of conversion, if the shares are to be issued by a converted corporation under the plan; or (3) by a plan of merger, if the shares are to be issued under the plan by a corporation created under the plan. (b) If the corporation's certificate of formation reserves to the shareholders the right to determine the consideration to be received for shares without par value, the shareholders shall determine the consideration for those shares before the shares are issued. The board of directors may not determine the consideration for shares under this subsection. (c) A corporation may dispose of treasury shares for consideration that may be determined by the board of directors. The consideration received for treasury shares may: (1) have a value greater or less than, or equal to, the par value, if any, of the shares; and (2) consist of the types of consideration described by Section 21.159 . (d) Repealed by Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514 ), Sec. 59(1), eff. September 1, 2023. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2015, 84th Leg., R.S., Ch. 32 (S.B. 860 ), Sec. 24, eff. September 1, 2015. Acts 2017, 85th Leg., R.S., Ch. 75 (S.B. 1518 ), Sec. 7, eff. September 1, 2017. Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514 ), Sec. 23, eff. September 1, 2023. Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514 ), Sec. 59(1), eff. September 1, 2023. Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411 ), Sec. 24, eff. September 1, 2025.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.21.160
What does The Texas Constitution § BO.21.160 cover?
Section BO.21.160 ("DETERMINATION OF CONSIDERATION FOR 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.21.160?
A common citation format is "The Texas Constitution § BO.21.160" (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.21.160 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.