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Texas Business Organizations Code - BUS ORG § 21.159. Types of Consideration for Shares

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

Shares with or without par value may be issued for the following types of consideration:

(1) a tangible or intangible benefit to the corporation;

(2) cash;

(3) a promissory note;

(4) services performed or a contract for services to be performed;

(5) a security of the corporation or any other organization; and

(6) any other property of any kind or nature.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 21.159. Types of Consideration for Shares - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-21-159/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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