{"data":{"id":"us-tx/tex.-business-organizations-code-251.201","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 251.201","heading":"SHARE AND MEMBERSHIP CERTIFICATES: ISSUANCE AND CONTENTS.","body":"(a) A cooperative association may not issue a certificate for membership capital or for invested capital until any par value of the certificate has been paid in full.\n(b) Each certificate for membership capital issued by a cooperative association must contain a statement of the requirements of Sections 251.202(a) and (b), 251.254, and 251.255.\n(c) Each certificate for invested capital issued by a cooperative association must contain a statement of the restrictions on transferability as provided by the cooperative association's bylaws.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 6. ASSOCIATIONS","CHAPTER 251. COOPERATIVE ASSOCIATIONS","SUBCHAPTER E. SHARES"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.251.htm#251.201","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"8af1a1af8384e1e995f23cfdb7df68d6363d460869c3b5f001312e656f607981","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-251.154","next":"us-tx/tex.-business-organizations-code-251.202"},"notice":"GroundRules: Original legal text. Not legal advice."}