10.359 – RECORD OF DEMAND FOR FAIR VALUE OF OWNERSHIP
Texas Business Organizations Code § 10.359
Summary
This law requires organizations to document any demands for payment from dissenting owners regarding ownership interests. It ensures that ownership records reflect these demands and outlines the necessary actions if the ownership interest is transferred.
Organizations must record demands for payment from dissenting owners.
Ownership interest records must be updated accordingly.
New certificates are required for transferred ownership interests.
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In simple terms: Learn about Texas's RECORD OF DEMAND FOR FAIR VALUE OF OWNERSHIP law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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