SHARE AND MEMBERSHIP CERTIFICATES: ISSUANCE AND CONTENTS.

Tex. BUS. ORGS Code § 251.201.
in effect
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(a) A cooperative association may not issue a certificate for membership capital or for invested capital until any par value of the certificate has been paid in full. (b) Each certificate for membership capital issued by a cooperative association must contain a statement of the requirements of Sections 251.202 (a) and (b), 251.254 , and 251.255 . (c) Each certificate for invested capital issued by a cooperative association must contain a statement of the restrictions on transferability as provided by the cooperative association's bylaws.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/28/2026

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