Texas § 200.154 RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.

Texas Statutes

§ 200.154 — RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.

Texas § 200.154

Code BOBusiness Organizations Code

This text of Texas § 200.154 (RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 200.154 (2026).

Text

Sec. 200.154. RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.

(a)A restriction on the transfer or registration of transfer of a security may be imposed by:

(1)the real estate investment trust's certificate of formation;

(2)the real estate investment trust's bylaws;

(3)a written agreement among two or more holders of the securities; or

(4)a written agreement among one or more holders of the securities and the real estate investment trust if:

(A)the real estate investment trust files a copy of the agreement at the principal place of business or registered office of the real estate investment trust; and

(B)the copy of the agreement is subject to the same right of examination by a shareholder of the real estate investment trust, in person or by agent, attorney, or accountant, as

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Sec. 200.154. RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES. (a) A restriction on the transfer or registration of transfer of a security may be imposed by:
(1) the real estate investment trust's certificate of formation;
(2) the real estate investment trust's bylaws;
(3) a written agreement among two or more holders of the securities; or
(4) a written agreement among one or more holders of the securities and the real estate investment trust if:
(A) the real estate investment trust files a copy of the agreement at the principal place of business or registered office of the real estate investment trust; and
(B) the copy of the agreement is subject to the same right of examination by a shareholder of the real estate investment trust, in person or by agent, attorney, or accountant, as the books and records of the real estate investment trust.
(b) A restriction imposed under Subsection (a) is not valid with respect to a security issued before the restriction has been adopted, unless the holder of the security voted in favor of the restriction or is a party to the agreement imposing the restriction.