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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Business Organizations Code § 200.204: RESERVES, DESIGNATIONS, AND ALLOCATIONS FROM SURPLUS.

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Where this section sits in the code
  1. BUSINESS ORGANIZATIONS CODE
  2. TITLE 5. REAL ESTATE INVESTMENT TRUSTS
  3. CHAPTER 200. REAL ESTATE INVESTMENT TRUSTS
  4. SUBCHAPTER E. DISTRIBUTIONS AND SHARE DIVIDENDS

(a) A real estate investment trust, by resolution of the trust managers of the real estate investment trust, may:

(1) create a reserve out of the surplus of the real estate investment trust; or

(2) designate or allocate in any manner a part or all of the real estate investment trust's surplus for a proper purpose.

(b) A real estate investment trust may increase, decrease, or abolish a reserve, designation, or allocation in the manner provided by Subsection (a).

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Collected 2026-08-27T01:46:58Z. Source file · JSON

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