Tex. Bus. Org. Code § 21.159

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 21.159 - Types of Consideration for Shares

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.

Tex. Bus. Org. Code § 21.159

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.