Texas § 21.167 COMMITMENT TO PURCHASE SHARES.

Texas Statutes

§ 21.167 — COMMITMENT TO PURCHASE SHARES.

Texas § 21.167

Code BOBusiness Organizations Code

This text of Texas § 21.167 (COMMITMENT TO PURCHASE SHARES.) 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. § 21.167 (2026).

Text

Sec. 21.167. COMMITMENT TO PURCHASE SHARES.

(a)A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.

(b)A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation.

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Sec. 21.167. COMMITMENT TO PURCHASE SHARES. (a) A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.
(b) A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation.