Agriculture Code § 54.005
The incorporators or board of directors may divide a corporation’s capital stock into preferred and common stock, but if preferred stock is issued the articles must specify several details. The corporation may not pay common-stock dividends until preferred-stock dividends are fully paid at the rate stated in the articl
- Jurisdiction
- United States — Texas
- Instrument
- Code
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
The incorporators or board of directors may divide a corporation’s capital stock into preferred and common stock, but if preferred stock is issued the articles must specify several details. The corporation may not pay common-stock dividends until preferred-stock dividends are fully paid at the rate stated in the articles.
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Agriculture Code § 54.005
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