Texas Codes
Tex. Bus. Orgs. Code § 22.053 (2026)
Dividends Prohibited
✓ current as of May 2026
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Sec. 22.053. DIVIDENDS PROHIBITED. Except as provided by Section 22.054, a dividend may not be paid to, and no part of the income of a corporation may be distributed to, the corporation's members, directors, or officers.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 121 (S.B. 1233), Sec. 2, eff. May 23, 2015.
Notes of Decisions
Cited in 1
case, 2011–2011 · leading case: Double Diamond, Inc. v. Saturn, 339 S.W.3d 337 (Tex. App. 2011).
Double Diamond, Inc. v. Saturn, 339 S.W.3d 337 (Tex. App. 2011). “Laws 267 , 595 (current version at Tex. Bus. Orgs. Code Ann. §§ 22.053 , .054(1) (West 2010)).”
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