{"data":{"id":"us-tx/tex.-business-organizations-code-200.208","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.208","heading":"TRANSFER OF SURPLUS FOR SHARE DIVIDENDS.","body":"(a) When a share dividend payable in authorized but unissued shares with par value is made by a real estate investment trust, an amount of surplus designated by the trust managers that is not less than the aggregate par value of the shares issued as a share dividend shall be transferred to stated capital.\n(b) When a share dividend payable in authorized but unissued shares without par value is made by a real estate investment trust, an amount of surplus equal to the aggregate value set by the trust managers with respect to the shares under Section 200.207(b) shall be transferred to stated capital.\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#200.208","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"45cac112a14aff74f779a3db490854eec692209d6b94498ea52bbfb430ce57d2","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.207","next":"us-tx/tex.-business-organizations-code-200.209"},"notice":"GroundRules: Original legal text. Not legal advice."}