Texas Business Organizations Code 200.207 – Value of Shares Issued as Share Dividends
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(a) A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the shares.
(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the trust managers when the share dividend is authorized.
Terms Used In Texas Business Organizations Code 200.207
- 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