{"data":{"id":"us-tx/tex.-business-organizations-code-200.154","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.154","heading":"RESTRICTION ON TRANSFER OF SHARES AND OTHER SECURITIES.","body":"(a) A restriction on the transfer or registration of transfer of a security may be imposed by:\n(1) the real estate investment trust's certificate of formation;\n(2) the real estate investment trust's bylaws;\n(3) a written agreement among two or more holders of the securities; or\n(4) a written agreement among one or more holders of the securities and the real estate investment trust if:\n(A) the real estate investment trust files a copy of the agreement at the principal place of business or registered office of the real estate investment trust; and\n(B) the copy of the agreement is subject to the same right of examination by a shareholder of the real estate investment trust, in person or by agent, attorney, or accountant, as the books and records of the real estate investment trust.\n(b) A restriction imposed under Subsection (a) is not valid with respect to a security issued before the restriction has been adopted, unless the holder of the security voted in favor of the restriction or is a party to the agreement imposing the restriction.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 5. REAL ESTATE INVESTMENT TRUSTS","CHAPTER 200. REAL ESTATE INVESTMENT TRUSTS","SUBCHAPTER D. SHAREHOLDER RIGHTS AND RESTRICTIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.200.htm#200.154","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"c986fdea758dc976c1c62f22284d1c38f59cfa395be7c61791997b35201048ed","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.153","next":"us-tx/tex.-business-organizations-code-200.155"},"notice":"GroundRules: Original legal text. Not legal advice."}