Tex. Bus. Orgs. Code Section 303.004
Redemption of Shares; Price and Terms

(a)

A professional corporation may redeem shares of a shareholder, including a deceased shareholder.

(b)

The price and other terms of a redemption of shares may be:

(1)

agreed to between the board of directors of the professional corporation and the shareholder or the shareholder’s personal representative; or

(2)

specified in the governing documents of the professional corporation or an applicable agreement.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Section 303.004 — Redemption of Shares; Price and Terms, https://statutes.­capitol.­texas.­gov/Docs/BO/htm/BO.­303.­htm#303.­004 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 303.004’s source at texas​.gov