Texas § IN.861.153 - AUTHORIZED SHARES
Full text of Texas The Texas Constitution § IN.861.153 — AUTHORIZED SHARES, with citation guidance and answers to common questions.
§ IN.861.153. AUTHORIZED SHARES
AUTHORIZED SHARES. (a) A general casualty company may increase or decrease its capital stock after: (1) the intent to increase the stock is ratified by a two-thirds vote of the shareholders or the intent to decrease the stock is ratified by a majority vote of the shareholders; and (2) notice of the intent to increase or decrease the stock is published in a newspaper of general circulation for five consecutive days. (b) An increase in capital stock must be equal to an amount of at least $50,000. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003.
Frequently Asked Questions About Texas § IN.861.153
What does The Texas Constitution § IN.861.153 cover?
Section IN.861.153 ("AUTHORIZED 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 § IN.861.153?
A common citation format is "The Texas Constitution § IN.861.153" (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 § IN.861.153 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.