Tex. Bus. Org. Code § 21.461

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

Section 21.461 - Pledge, Mortgage, Deed of Trust, or Trust Indenture

Except as provided by the corporation's certificate of formation:

(1) the board of directors of a corporation may authorize a pledge, mortgage, deed of trust, or trust indenture; and

(2) an authorization or consent of shareholders is not required for the validity of the transaction or for any sale under the terms of the transaction.

Tex. Bus. Org. Code § 21.461

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