Texas Government Code 4005.006 – Stock Dividends
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 4005.006
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The exemption provided by § 4005.001 applies to a distribution of securities by a corporation directly to the corporation’s stockholders as a stock dividend or other distribution paid out of earnings or surplus.