{"data":{"id":"us-tx/tex.-business-organizations-code-21.912","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 21.912","heading":"VALID SHARES OR PUTATIVE SHARES.","body":"In the absence of actual fraud in the transaction, the judgment of the board of directors of a corporation that shares of the corporation are valid shares or putative shares is conclusive, unless otherwise determined by the district court in a proceeding brought under Section 21.914.\nAdded by Acts 2015, 84th Leg., R.S., Ch. 32 (S.B. 860), Sec. 30, eff. September 1, 2015.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 2. CORPORATIONS","CHAPTER 21. FOR-PROFIT CORPORATIONS","SUBCHAPTER R. RATIFICATION OF DEFECTIVE CORPORATE ACTS OR SHARES; PROCEEDINGS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm#21.912","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"cc39cffbfbdc49bd31db83ad1fa3d5a9c84994a8722380b184dc77b3d7918bea","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-21.911","next":"us-tx/tex.-business-organizations-code-21.913"},"notice":"GroundRules: Original legal text. Not legal advice."}