GroundRules
Tex. Business Organizations Code § 21.912: VALID SHARES OR PUTATIVE SHARES.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 2. CORPORATIONS
- CHAPTER 21. FOR-PROFIT CORPORATIONS
- SUBCHAPTER R. RATIFICATION OF DEFECTIVE CORPORATE ACTS OR SHARES; PROCEEDINGS
In the absence of actual fraud in the transaction, the judgment of the board of directors of a corporation that shares of the corporation are valid shares or putative shares is conclusive, unless otherwise determined by the district court in a proceeding brought under Section 21.914.
Added by Acts 2015, 84th Leg., R.S., Ch. 32 (S.B. 860), Sec. 30, eff. September 1, 2015.
Collected 2026-08-27T01:46:58Z. Source file · JSON