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TITLE 7 | BANKING AND SECURITIES |
PART 7 | STATE SECURITIES BOARD |
CHAPTER 109 | TRANSACTIONS EXEMPT FROM REGISTRATION |
RULE §109.12 | Stock Dividends |
The distribution by a corporation of securities direct to its stockholders as a stock dividend or other distribution paid out of earnings or surplus includes a stock dividend, stock split, reverse stock split, or other distribution out of paid-in capital (capital in excess of legal capital) or retained earnings. |
Source Note: The provisions of this §109.12 adopted to be effective September 6, 1979, 4 TexReg 3015 |