Texas § FI.62.156 - PREFERRED STOCK
Full text of Texas The Texas Constitution § FI.62.156 — PREFERRED STOCK, with citation guidance and answers to common questions.
§ FI.62.156. PREFERRED STOCK
PREFERRED STOCK. (a) An association may not issue preferred stock before the preferred stock is fully paid for in cash. (b) An association may not make a loan against the shares of its outstanding preferred stock. (c) An association may retire or redeem preferred stock in the manner provided by: (1) the articles of incorporation; or (2) a resolution of the board establishing the rights and preferences relating to the stock. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.62.156
What does The Texas Constitution § FI.62.156 cover?
Section FI.62.156 ("PREFERRED STOCK") 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 § FI.62.156?
A common citation format is "The Texas Constitution § FI.62.156" (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 § FI.62.156 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.