INCREASE OR DECREASE OF CAPITAL STOCK — Texas Code § IN.884.202
Texas Code § IN.884.202 — INCREASE OR DECREASE OF CAPITAL STOCK. Reproduced from the official The Texas Constitution, with a citation summary, verification link, and related provisions.
§ IN.884.202. INCREASE OR DECREASE OF CAPITAL STOCK
INCREASE OR DECREASE OF CAPITAL STOCK. (a) At any shareholders' meeting, shareholders of a stipulated premium company whose cumulative stock ownership represents a majority of the capital stock of the company by resolution may increase or decrease the amount of the company's capital stock subject to this section. (b) Capital stock may be decreased to an amount that is less than $200,000 only to avoid insolvency as provided by Section 884.205 . (c) Two officers of the stipulated premium company must sign and acknowledge a statement of the increase or decrease. The acknowledged statement and a certified copy of the resolution shall be filed and recorded in the same manner as the charter. (d) For an increase or decrease of capital stock, the stipulated premium company may require the return of the original certificates evidencing the stock in exchange for new certificates. An issuance of new certificates that results in a transfer of stock is subject to Section 884.254 . Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1309 (H.B. 2570 ), Sec. 2, eff. September 1, 2009.
Source: official Texas text · Last verified 2026-08-27
At a glance
- Citation: The Texas Constitution § IN.884.202
- Jurisdiction: Texas
- Code: The Texas Constitution
- Subject: INCREASE OR DECREASE OF CAPITAL STOCK
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official The Texas Constitution. Confirm it against the primary source before relying on it:
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Common questions
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The text above is transcribed from the The Texas Constitution, the codified statutes of Texas. The official publisher link appears under "Verify the text" on this page.
What subject does The Texas Constitution § IN.884.202 address?
It addresses "INCREASE OR DECREASE OF CAPITAL STOCK". Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.
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