Tex. Agriculture Code § 54.010
This is the official text of Tex. Agriculture Code § 54.010, part of Texas’s Agriculture Code — regulates farming, livestock, and agricultural commerce.
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§ 54.010. LIABILITY OF SHAREHOLDER.
Official statutory text
(a) Except for debts contracted between a corporation formed under this chapter and a shareholder, a shareholder of common or preferred stock is not liable for the debts, contracts, or engagements of the corporation in an amount greater than the par value of the stock owned by the shareholder.
(b) Both common and preferred stock are nonassessable.
(b) Both common and preferred stock are nonassessable.
Status: in_force · Read it on the official government site
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