Types of Consideration For Issuance of Shares

Sec. 200.105. TYPES OF CONSIDERATION FOR ISSUANCE OF SHARES. Shares with or without par value may be issued by a real estate investment trust for the following types of consideration: (1) a tangible or intangible benefit to the real estate investment trust; (2) cash; (3) a promissory note; (4) services performed or a contract for services to be performed; (5) a security of the real estate investment trust or any other organization; and (6) any other property of any kind or nature. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.