Tex. Business Organizations Code § 21.461
This is the official text of Tex. Business Organizations Code § 21.461, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.461. PLEDGE, MORTGAGE, DEED OF TRUST, OR TRUST INDENTURE.
Official statutory text
Except as provided by the corporation's certificate of formation:
(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and
(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.
(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and
(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.
Status: in_force · Read it on the official government site
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