Texas Administrative Code
|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.|