Texas § 21.721 DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE.

Texas Statutes

§ 21.721 — DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE.

Texas § 21.721

Code BOBusiness Organizations Code

This text of Texas § 21.721 (DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE.) 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. § 21.721 (2026).

Text

Sec. 21.721. DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE.

(a)Before the transfer of shares of a close corporation in which there is a shareholders' agreement, the transferor shall deliver a complete copy of the shareholders' agreement to the transferee.

(b)If the transferor fails to deliver a complete copy of the shareholders' agreement:

(1)the validity and enforceability of the shareholders' agreement against each shareholder of the corporation, including the transferee, is not affected;

(2)the right, title, or interest of the transferee in the transferred shares is not adversely affected; and

(3)the transferee is entitled to obtain on demand from the transferor or from the close corporation a complete copy of the shareholders' agreement at the transferor's expense.

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 21.721. DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE. (a) Before the transfer of shares of a close corporation in which there is a shareholders' agreement, the transferor shall deliver a complete copy of the shareholders' agreement to the transferee.
(b) If the transferor fails to deliver a complete copy of the shareholders' agreement:
(1) the validity and enforceability of the shareholders' agreement against each shareholder of the corporation, including the transferee, is not affected;
(2) the right, title, or interest of the transferee in the transferred shares is not adversely affected; and
(3) the transferee is entitled to obtain on demand from the transferor or from the close corporation a complete copy of the shareholders' agreement at the transferor's expense.