Types of Consideration For Shares

Sec. 21.159. TYPES OF CONSIDERATION FOR SHARES. Shares with or without par value may be issued for the following types of consideration: (1) a tangible or intangible benefit to the corporation; (2) cash; (3) a promissory note; (4) services performed or a contract for services to be performed; (5) a security of the corporation 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.