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Texas Business Organizations Code - BUS ORG § 3.205. Notice for Uncertificated Ownership Interest

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

(a) Except as provided by Subsection (c) and in accordance with Chapter 8, Business & Commerce Code, after an issuance or transfer of an uncertificated ownership interest in a domestic entity, the owner of the ownership interest shall be notified in writing or by electronic transmission of any information required under this subchapter to be stated on a certificate representing the ownership interest.

(b) Except as otherwise expressly provided by law, the rights and obligations of the owner of an uncertificated ownership interest are the same as the rights and obligations of the owner of a certificated ownership interest of the same class and series.

(c) The owner of an uncertificated ownership interest in a domestic entity is not required to be notified under Subsection (a) if:

(1) the required information is included in the governing documents of the entity; and

(2) the owner of the uncertificated ownership interest is provided with a copy of the governing documents.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 3.205. Notice for Uncertificated Ownership Interest - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-3-205/

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