Texas § 21.252 CANCELLATION OF TREASURY SHARES.

Texas Statutes

§ 21.252 — CANCELLATION OF TREASURY SHARES.

Texas § 21.252

Code BOBusiness Organizations Code

This text of Texas § 21.252 (CANCELLATION OF 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. § 21.252 (2026).

Text

Sec. 21.252. CANCELLATION OF TREASURY SHARES.

(a)A corporation, by resolution of the board of directors of the corporation, may cancel all or part of the corporation's treasury shares at any time.

(b)Upon the cancellation of treasury shares, the stated capital of the corporation shall be reduced by that part of the stated capital that was, at the time of the cancellation, represented by the canceled shares, and the canceled shares shall be restored to the status of authorized but unissued shares.

(c)This section does not prohibit a cancellation of shares or a reduction of stated capital in any other manner permitted by law.

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Sec. 21.252. CANCELLATION OF TREASURY SHARES. (a) A corporation, by resolution of the board of directors of the corporation, may cancel all or part of the corporation's treasury shares at any time.
(b) Upon the cancellation of treasury shares, the stated capital of the corporation shall be reduced by that part of the stated capital that was, at the time of the cancellation, represented by the canceled shares, and the canceled shares shall be restored to the status of authorized but unissued shares.
(c) This section does not prohibit a cancellation of shares or a reduction of stated capital in any other manner permitted by law.