(a) A notice of redemption of redeemable shares of a corporation must state:
(1) the class or series of shares or part of the class or series of shares to be redeemed;
(2) the date set for redemption;
(3) the redemptive price; and
(4) the place at which the shareholders may obtain payment of the redemptive price.
(b) The notice of redemption shall be sent to each holder of redeemable shares being called not later than the 21st day or earlier than the 60th day before the date set for redemption, unless otherwise provided by the terms of the class or series of shares contained in the certificate of formation.

Terms Used In Texas Business Organizations Code 21.305

  • Certificate of formation: means :
    (A) the document required to be filed with the filing officer under Chapter 3 to form a filing entity; and
    (B) if appropriate, a restated certificate of formation and all amendments of an original or restated certificate of formation. See Texas Business Organizations Code 1.002
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means an entity governed as a corporation under Title 2 or 7. See Texas Business Organizations Code 1.002
  • 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
  • United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005

(c) A notice that is mailed is considered to have been sent when the notice is deposited in the United States mail, with postage prepaid, addressed to the shareholder at the shareholder’s address as it appears on the share transfer records of the corporation.
(d) A corporation may give the transfer agent described by § 21.306 irrevocable instructions to send or complete the notice of redemption.

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