Tex. Business Organizations Code § 303.004
This is the official text of Tex. Business Organizations Code § 303.004, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 303.004. REDEMPTION OF SHARES; PRICE AND TERMS.
Official statutory text
(a) A professional corporation may redeem shares of a shareholder, including a deceased shareholder.
(b) The price and other terms of a redemption of shares may be:
(1) agreed to between the board of directors of the professional corporation and the shareholder or the shareholder's personal representative; or
(2) specified in the governing documents of the professional corporation or an applicable agreement.
(b) The price and other terms of a redemption of shares may be:
(1) agreed to between the board of directors of the professional corporation and the shareholder or the shareholder's personal representative; or
(2) specified in the governing documents of the professional corporation or an applicable agreement.
Status: in_force · Read it on the official government site
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