Tex. Business Organizations Code § 21.167
This is the official text of Tex. Business Organizations Code § 21.167, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.167. COMMITMENT TO PURCHASE SHARES.
Official statutory text
(a) A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.
(b) A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation.
(b) A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation.
Status: in_force · Read it on the official government site
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