GroundRules
Tex. Business Organizations Code § 21.461: PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 2. CORPORATIONS
- CHAPTER 21. FOR-PROFIT CORPORATIONS
- SUBCHAPTER J. FUNDAMENTAL BUSINESS TRANSACTIONS
Except as provided by the corporation's certificate of formation:
(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and
(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON