Source: https://chowinslaw.com/resources/texas-business-laws/345-texas-real-estate-investment-trusts-shareholders-meetings-voting-and-quorum
Timestamp: 2019-04-23 04:39:00+00:00

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(a) An annual meeting of the shareholders of a real estate investment trust shall be held at a time that is stated in or set in accordance with the bylaws of the real estate investment trust.
§ 200.253. NOTICE OF MEETING.
(a) Written notice of a meeting in accordance with § 6.051 shall be given to each shareholder entitled to vote at the meeting not later than the 10th day and not earlier than the 60th day before the date of the meeting. Notice shall be given in person or by mail by or at the direction of a trust manager, officer, or other person calling the meeting.
§ 200.254. CLOSING OF SHARE TRANSFER RECORDS.
§ 200.255. RECORD DATE FOR WRITTEN CONSENT TO ACTION.
The record date provided in accordance with § 6.102(a) may not be more than 10 days after the date on which the trust managers adopt the resolution setting the record date.
§ 200.256. RECORD DATE FOR PURPOSE OTHER THAN WRITTEN CONSENT TO ACTION.
The record date provided by the trust managers in accordance with § 6.101 must be at least 10 days before the date on which the particular action requiring the determination of shareholders is to be taken.
(a) Subject to Subsection (b), the holders of the majority of the shares entitled to vote at a meeting of the shareholders of a real estate investment trust that are present or represented by proxy at the meeting are a quorum for the consideration of a matter to be presented at that meeting.
§ 200.258. VOTING IN ELECTION OF TRUST MANAGERS.
(a) Subject to Subsection (b), trust managers of a real estate investment trust shall be elected by two-thirds of the votes cast by the holders of shares entitled to vote in the election of trust managers at a meeting of shareholders at which a quorum is present.
(c) Subject to § 200.259, at each election of trust managers of a real estate investment trust, each shareholder entitled to vote at the election is entitled to vote, in person or by proxy, the number of shares owned by the shareholder for as many candidates as there are trust managers to be elected and for whose election the shareholder is entitled to vote.
§ 200.259. CUMULATIVE VOTING IN ELECTION OF TRUST MANAGERS.
(a) Cumulative voting is allowed only if specifically authorized by the certificate of formation of a real estate investment trust.
§ 200.260. VOTING ON MATTERS OTHER THAN ELECTION OF TRUST MANAGERS.
(a) Subject to Subsection (b), with respect to a matter other than the election of trust managers or a matter for which the affirmative vote of the holders of a specified portion of the shares entitled to vote is required by this code, the affirmative vote of the holders of the majority of the shares entitled to vote on, and who voted for, against, or expressly abstained with respect to, the matter at a shareholders' meeting of a real estate investment trust at which a quorum is present is the act of the shareholders.
§ 200.261. VOTE REQUIRED TO APPROVE FUNDAMENTAL ACTION.
(b) Except as otherwise provided by this code or the certificate of formation or bylaws of a real estate investment trust in accordance with § 200.260, the vote required for approval of a fundamental action by the shareholders is the affirmative vote of the holders of at least two-thirds of the outstanding shares entitled to vote on the fundamental action.
§ 200.262. CHANGES IN VOTE REQUIRED FOR CERTAIN MATTERS.
(a) With respect to a matter for which the affirmative vote of the holders of a specified portion of the shares entitled to vote is required by this code, the certificate of formation of a real estate investment trust may provide that the affirmative vote of the holders of a specified portion, but not less than the majority, of the shares entitled to vote on that matter is required for shareholder action on that matter.
§ 200.263. NUMBER OF VOTES PER SHARE.
(a) Except as provided by the certificate of formation of a real estate investment trust or this title or Title 1, each outstanding share, regardless of class, is entitled to one vote on each matter submitted to a vote at a shareholders' meeting.
§ 200.264. VOTING IN PERSON OR BY PROXY.
§ 200.265. TERM OF PROXY.
§ 200.266. REVOCABILITY OF PROXY.
(6) a party to a voting agreement created under § 6.252.
§ 200.267. ENFORCEABILITY OF PROXY.
§ 200.268. PROCEDURES IN BYLAWS RELATING TO PROXIES.
A real estate investment trust may establish in the bylaws of the real estate investment trust procedures consistent with this code for determining the validity of proxies and determining whether shares held of record by a bank, broker, or other nominee are represented at a meeting of shareholders. The procedures may incorporate rules of and determinations made by a self-regulatory organization regulating that bank, broker, or other nominee.

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