Section 21.720 - Persons Bound By Shareholders' Agreement(a) A shareholders' agreement executed in accordance with Section 21.715 is: (1) considered to be an agreement among all of the shareholders of the close corporation; and(2) binding on and enforceable against each shareholder of the close corporation, regardless of whether: (A) a particular shareholder acquired shares in the close corporation by purchase, gift, bequest, or otherwise; or(B) the shareholder had actual knowledge of the existence of the shareholders' agreement at the time of acquiring shares.(b) A transferee or assignee of shares of a close corporation in which there is a shareholders' agreement is bound by the agreement for all purposes, regardless of whether the transferee or assignee executed or was aware of the agreement.Tex. Bus. Org. Code § 21.720
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.