Section 21.167 - Commitment to Purchase Shares(a) A person who contemplates the acquisition of shares in a corporation may commit to act in a specified manner with respect to the shares after the acquisition, including the voting of the shares or the retention or disposition of the shares. To be binding, the commitment must be in writing and be signed by the person acquiring the shares.(b) A written commitment entered into under Subsection (a) is a contract between the shareholder and the corporation.Tex. Bus. Org. Code § 21.167
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.