Texas § 200.304 NUMBER OF TRUST MANAGERS.

Texas Statutes

§ 200.304 — NUMBER OF TRUST MANAGERS.

Texas § 200.304

Code BOBusiness Organizations Code

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Bluebook

Tex. Business Organizations Code Code Ann. § 200.304 (2026).

Text

Sec. 200.304. NUMBER OF TRUST MANAGERS.

(a)The certificate of formation or bylaws of the real estate investment trust shall set the number of trust managers or provide for the manner of determining the number of trust managers, except that the certificate of formation shall set the number constituting the initial trust managers.

(b)The number of trust managers may be increased or decreased by amendment to, or as provided by, the certificate of formation or bylaws. A decrease in the number of trust managers may not shorten the term of an incumbent trust manager.

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Sec. 200.304. NUMBER OF TRUST MANAGERS. (a) The certificate of formation or bylaws of the real estate investment trust shall set the number of trust managers or provide for the manner of determining the number of trust managers, except that the certificate of formation shall set the number constituting the initial trust managers.
(b) The number of trust managers may be increased or decreased by amendment to, or as provided by, the certificate of formation or bylaws. A decrease in the number of trust managers may not shorten the term of an incumbent trust manager.