Tex. Business Organizations Code § 21.216
This is the official text of Tex. Business Organizations Code § 21.216, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.216. LIABILITY REGARDING JOINT OWNERSHIP OF SHARES.
Official statutory text
A corporation that transfers shares or makes a distribution to a surviving joint owner under Section 21.214 before the corporation has received a written claim for the shares or distribution from another person is discharged from liability for the transfer or payment.
Status: in_force · Read it on the official government site
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