Tex. Business Organizations Code § 21.312
This is the official text of Tex. Business Organizations Code § 21.312, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.312. VALUE OF SHARES ISSUED AS SHARE DIVIDENDS.
Official statutory text
(a) A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the respective share.
(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the board of directors when the share dividend is authorized.
(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the board of directors when the share dividend is authorized.
Status: in_force · Read it on the official government site
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