10.366 – STATUS OF OWNERSHIP INTEREST HELD OR FORMERLY HELD
Texas Business Organizations Code § 10.366
Summary
This law outlines how ownership interests acquired by a responsible organization during a merger, conversion, or interest exchange should be managed. It specifies that these interests must be handled according to the agreed-upon plans or may be treated like other ownership interests in different scenarios.
Ownership interests must follow merger or conversion plans.
Interests can be treated like other ownership interests otherwise.
Applies to responsible organizations acquiring interests.
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In simple terms: Learn about Texas's STATUS OF OWNERSHIP INTEREST HELD OR FORMERLY HELD 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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