{"data":{"id":"us-tx/tex.-business-organizations-code-200.266","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 200.266","heading":"REVOCABILITY OF PROXY.","body":"(a) In this section, a \"proxy coupled with an interest\" includes the appointment as proxy of:\n(1) a pledgee;\n(2) a person who purchased or agreed to purchase the shares subject to the proxy;\n(3) a person who owns or holds an option to purchase the shares subject to the proxy;\n(4) a creditor of the real estate investment trust who extended the real estate investment trust credit under terms requiring the appointment;\n(5) an employee of the real estate investment trust whose employment contract requires the appointment; or\n(6) a party to a voting agreement created under Section 6.252.\n(b) A proxy is revocable unless:\n(1) the proxy form conspicuously states that the proxy is irrevocable; and\n(2) the proxy is coupled with an interest.\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 F. SHAREHOLDERS' MEETINGS; VOTING AND QUORUM"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.200.htm#200.266","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"30629957b50bf603c9e454e156add1bb7d9260b3c1ca791a48d583c9e929321e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-200.265","next":"us-tx/tex.-business-organizations-code-200.267"},"notice":"GroundRules: Original legal text. Not legal advice."}