Texas § GV.4005.010 - EXCHANGE OF SHARES
Full text of Texas The Texas Constitution § GV.4005.010 — EXCHANGE OF SHARES, with citation guidance and answers to common questions.
§ GV.4005.010. EXCHANGE OF SHARES
EXCHANGE OF SHARES. (a) The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to the corporation's stockholders in connection with: (1) the change of par value stock to no par value stock or vice versa; or (2) the exchange of outstanding shares for the same or a greater or smaller number of shares. (b) The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corporation's securities held by the security holders at the time of the issuance or sale. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § GV.4005.010
What does The Texas Constitution § GV.4005.010 cover?
Section GV.4005.010 ("EXCHANGE 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 § GV.4005.010?
A common citation format is "The Texas Constitution § GV.4005.010" (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 § GV.4005.010 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.