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Tex. Bus. Orgs. Code § 21.164

RIGHTS OF HOLDERS OF FRACTIONAL SHARES OR SCRIP

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff

(a) A holder of a certificated or uncertificated fractional share is entitled to exercise voting rights, receive distributions, and make a claim with respect to the assets of the corporation in the event of winding up and termination.

(b) A holder of a certificate for scrip is not entitled to exercise voting rights, receive distributions, or make a claim with respect to the assets of the corporation in the event of winding up and termination unless the scrip provides for those rights.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.