(a) A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the respective share.
(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the board of directors when the share dividend is authorized.

Terms Used In Texas Business Organizations Code 21.312

  • Share: means a unit into which the ownership interest in a for-profit corporation, professional corporation, real estate investment trust, or professional association is divided, regardless of whether the share is certificated or uncertificated. See Texas Business Organizations Code 1.002
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