Texas Statutes
§ 200.202 — LIMITATIONS ON DISTRIBUTIONS.
Texas § 200.202
JurisdictionTexas
Code BOBusiness Organizations Code
This text of Texas § 200.202 (LIMITATIONS ON DISTRIBUTIONS.) 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. § 200.202 (2026).
Text
Sec. 200.202. LIMITATIONS ON DISTRIBUTIONS.
(a)A real estate investment trust may not make a distribution:
(1)if the real estate investment trust would be insolvent after the distribution; or
(2)that is more than the surplus of the real estate investment trust.
(b)Notwithstanding Subsection (a)(2), if the net assets of a real estate investment trust are not less than the amount of the proposed distribution, the real estate investment trust may make a distribution involving a purchase or redemption of its own shares if the purchase or redemption is made by the real estate investment trust to:
(1)eliminate fractional shares;
(2)collect or settle indebtedness owed by or to the real estate investment trust;
(3)pay dissenting shareholders entitled to receive payment for their shares unde
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Legislative History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Nearby Sections
15
§ 200.001
DEFINITION.§ 200.002
APPLICABILITY OF CHAPTER.§ 200.003
CONFLICT WITH OTHER LAW.§ 200.004
ULTRA VIRES ACTS.§ 200.051
DECLARATION OF TRUST.§ 200.058
BYLAWS.§ 200.059
DUAL AUTHORITY.Cite This Page — Counsel Stack
Bluebook (online)
Texas § 200.202, Counsel Stack Legal Research, https://law.counselstack.com/statute/tx/BO/200.202.