Texas § 4005.009 MERGER, CONSOLIDATION, AND ASSET SALES.

Texas Statutes

§ 4005.009 — MERGER, CONSOLIDATION, AND ASSET SALES.

Texas § 4005.009

Code GVGovernment Code

This text of Texas § 4005.009 (MERGER, CONSOLIDATION, AND ASSET SALES.) 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. Government Code Code Ann. § 4005.009 (2026).

Text

Sec. 4005.009. MERGER, CONSOLIDATION, AND ASSET SALES.

(a)The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to another corporation or to the security holders of the corporation pursuant to a vote by one or more classes of those security holders, as required by the certificate of formation, certificate of incorporation, or applicable corporation statute, in connection with:

(1)a merger;

(2)a consolidation; or

(3)a sale of corporate assets.

(b)The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corpora

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Sec. 4005.009. MERGER, CONSOLIDATION, AND ASSET SALES. (a) The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to another corporation or to the security holders of the corporation pursuant to a vote by one or more classes of those security holders, as required by the certificate of formation, certificate of incorporation, or applicable corporation statute, in connection with:
(1) a merger;
(2) a consolidation; or
(3) a sale of corporate assets.
(b) The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corporation's securities held by the security holders at the time of the issuance or sale.