{"data":{"id":"us-tx/tex.-business-organizations-code-200.204","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.204","heading":"RESERVES, DESIGNATIONS, AND ALLOCATIONS FROM SURPLUS.","body":"(a) A real estate investment trust, by resolution of the trust managers of the real estate investment trust, may:\n(1) create a reserve out of the surplus of the real estate investment trust; or\n(2) designate or allocate in any manner a part or all of the real estate investment trust's surplus for a proper purpose.\n(b) A real estate investment trust may increase, decrease, or abolish a reserve, designation, or allocation in the manner provided by Subsection (a).\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 E. DISTRIBUTIONS AND SHARE DIVIDENDS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.200.htm#200.204","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"1b7806c9464a13fc7a8d3d1c8efd069ce220087e5d62e13518fa0350c8b4c437","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.203","next":"us-tx/tex.-business-organizations-code-200.205"},"notice":"GroundRules: Original legal text. Not legal advice."}