NO PAR VALUE; PAR VALUE
Known as the The Securities Act
The act spans §§ 4001.001 to 4008.105 (251 sections).
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff
(a) "No par value" as applied to shares of stock or other securities means the securities are without a given or specified par value.
(b) For purposes of classifying or computing the par value of shares of stock or other securities of no par value, the amount for which the securities are sold or offered for sale to the public is used as a basis.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.