Gavvy: Bus. Orgs. Code, Sec. 21.312. Value of Shares Issued As Share Dividends.

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Sec. 21.312. Value of Shares Issued As Share Dividends.

Sec. 21.312. VALUE OF SHARES ISSUED AS SHARE DIVIDENDS. (a) A share dividend payable in authorized but unissued shares with par value shall be issued at the par value of the respective share.

(b) A share dividend payable in authorized but unissued shares without par value shall be issued at the value set by the board of directors when the share dividend is authorized.

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

Gavvy last updated this database on: Sep 6, 2024