Texas § 22.254 PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.

Texas Statutes

§ 22.254 — PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.

Texas § 22.254

Code BOBusiness Organizations Code

This text of Texas § 22.254 (PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.) 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. § 22.254 (2026).

Text

Sec. 22.254. PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.

(a)Except as otherwise provided by Subsection (b) or by the corporation's certificate of formation:

(1)the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and

(2)an authorization or consent of members is not required for the validity of the transaction or for any sale under the terms of the transaction.

(b)If the management of the affairs of a corporation is vested in the corporation's members under Section 22.202 :

(1)the members may authorize a pledge, mortgage, deed of trust, or trust indenture in the manner provided by Section 22.252 (c) for a sale of all or substantially all of the assets of a corporation; and

(2)an authorization by the board of directors is

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Sec. 22.254. PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE. (a) Except as otherwise provided by Subsection (b) or by the corporation's certificate of formation:
(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and
(2) an authorization or consent of members is not required for the validity of the transaction or for any sale under the terms of the transaction.
(b) If the management of the affairs of a corporation is vested in the corporation's members under Section 22.202 :
(1) the members may authorize a pledge, mortgage, deed of trust, or trust indenture in the manner provided by Section 22.252 (c) for a sale of all or substantially all of the assets of a corporation; and
(2) an authorization by the board of directors is not required for the validity of the transaction or for any sale under the terms of the transaction.