Texas § 21.171 OUTSTANDING OR TREASURY SHARES.

Texas Statutes

§ 21.171 — OUTSTANDING OR TREASURY SHARES.

Texas § 21.171

Code BOBusiness Organizations Code

This text of Texas § 21.171 (OUTSTANDING OR TREASURY 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. § 21.171 (2026).

Text

Sec. 21.171. OUTSTANDING OR TREASURY SHARES.

(a)Shares that are issued are outstanding shares unless the shares are treasury shares or are canceled.

(b)If there are outstanding shares, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation on the winding up and termination of the corporation must be outstanding shares.

(c)Treasury shares are considered to be issued shares and not outstanding shares.

(d)Treasury shares may not be included in the total assets of a corporation for purposes of determining the net assets of a corporation.

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Sec. 21.171. OUTSTANDING OR TREASURY SHARES. (a) Shares that are issued are outstanding shares unless the shares are treasury shares or are canceled.
(b) If there are outstanding shares, one or more shares that together have unlimited voting rights and one or more shares that together are entitled to receive the net assets of the corporation on the winding up and termination of the corporation must be outstanding shares.
(c) Treasury shares are considered to be issued shares and not outstanding shares.
(d) Treasury shares may not be included in the total assets of a corporation for purposes of determining the net assets of a corporation.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 32, eff. September 1, 2009.