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Texas Business Organizations Code - BUS ORG § 200.304. Number of Trust Managers

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The certificate of formation or bylaws of the real estate investment trust shall set the number of trust managers or provide for the manner of determining the number of trust managers, except that the certificate of formation shall set the number constituting the initial trust managers.

(b) The number of trust managers may be increased or decreased by amendment to, or as provided by, the certificate of formation or bylaws.  A decrease in the number of trust managers may not shorten the term of an incumbent trust manager.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 200.304. Number of Trust Managers - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-200-304/

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