{"data":{"id":"us-tx/tex.-business-organizations-code-200.164","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.164","heading":"PLEDGEES AND TRUST ADMINISTRATORS.","body":"(a) A pledgee or other holder of shares as collateral security is not personally liable as a shareholder.\n(b) An executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver is not personally liable as a holder of or subscriber to shares of a real estate investment trust.\n(c) The estate and funds administered by an executor, administrator, conservator, guardian, trustee, assignee for the benefit of creditors, or receiver are liable for the full amount of the consideration for which the shares were or are to be issued.\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#200.164","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"4be2af0e82a9d38b9c1a9d457e5f1dcad5603239ea9a8d570b15bd67fd80a9e8","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.163","next":"us-tx/tex.-business-organizations-code-200.201"},"notice":"GroundRules: Original legal text. Not legal advice."}