{"data":{"id":"us-tx/tex.-business-organizations-code-303.004","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 303.004","heading":"REDEMPTION OF SHARES; PRICE AND TERMS.","body":"(a) A professional corporation may redeem shares of a shareholder, including a deceased shareholder.\n(b) The price and other terms of a redemption of shares may be:\n(1) agreed to between the board of directors of the professional corporation and the shareholder or the shareholder's personal representative; or\n(2) specified in the governing documents of the professional corporation or an applicable agreement.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 7. PROFESSIONAL ENTITIES","CHAPTER 303. PROVISIONS RELATING TO PROFESSIONAL CORPORATIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.303.htm#303.004","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"7803b4a728eb99801012b83b4e5555da754c310199ea0c23a7453703c3415b02","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-303.003","next":"us-tx/tex.-business-organizations-code-303.005"},"notice":"GroundRules: Original legal text. Not legal advice."}