Texas § 200.259 CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS.

Texas Statutes

§ 200.259 — CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS.

Texas § 200.259

Code BOBusiness Organizations Code

This text of Texas § 200.259 (CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS.) 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. § 200.259 (2026).

Text

Sec. 200.259. CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS.

(a)Cumulative voting is allowed only if specifically authorized by the certificate of formation of a real estate investment trust.

(b)Cumulative voting occurs when a shareholder:

(1)gives one candidate as many votes as the total of the number of the trust managers to be elected multiplied by the shareholder's shares; or

(2)distributes the votes among one or more candidates using the same principle.

(c)If cumulative voting is specifically authorized by the certificate of formation, a shareholder who intends to cumulate votes must give written notice of that intention to the trust managers on or before the day preceding the date of the election at which the shareholder intends to cumulate votes.

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Sec. 200.259. CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS. (a) Cumulative voting is allowed only if specifically authorized by the certificate of formation of a real estate investment trust.
(b) Cumulative voting occurs when a shareholder:
(1) gives one candidate as many votes as the total of the number of the trust managers to be elected multiplied by the shareholder's shares; or
(2) distributes the votes among one or more candidates using the same principle.
(c) If cumulative voting is specifically authorized by the certificate of formation, a shareholder who intends to cumulate votes must give written notice of that intention to the trust managers on or before the day preceding the date of the election at which the shareholder intends to cumulate votes.