Texas § 21.307 PAYMENT OF REDEEMED SHARES.

Texas Statutes

§ 21.307 — PAYMENT OF REDEEMED SHARES.

Texas § 21.307

Code BOBusiness Organizations Code

This text of Texas § 21.307 (PAYMENT OF REDEEMED 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. § 21.307 (2026).

Text

Sec. 21.307. PAYMENT OF REDEEMED SHARES.

(a)Payment of a certificated share shall be made only on the surrender of the respective share certificate.

(b)A corporation may give a transfer agent described by Section 21.306 irrevocable instructions to pay, on or after the date set for redemption of redeemable shares, the redemptive price to the respective holders of the shares as evidenced by a list of shareholders certified by an officer of the corporation.

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Sec. 21.307. PAYMENT OF REDEEMED SHARES. (a) Payment of a certificated share shall be made only on the surrender of the respective share certificate.
(b) A corporation may give a transfer agent described by Section 21.306 irrevocable instructions to pay, on or after the date set for redemption of redeemable shares, the redemptive price to the respective holders of the shares as evidenced by a list of shareholders certified by an officer of the corporation.