Texas Business Organizations Code 200.055 – Adoption of Amendment by Shareholders
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Terms Used In Texas Business Organizations Code 200.055
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Real estate investment trust: means an entity governed as a real estate investment trust under Title 5. See Texas Business Organizations Code 1.002
If a real estate investment trust has issued and outstanding shares:
(1) a resolution described by Section 200.053 must also direct that the proposed amendment be submitted to a vote of the shareholders at a meeting; and
(2) the shareholders must approve the proposed amendment in the manner provided by Section 200.056.