A REIT is an unincorporated trust formed by one or more trust managers and managed under the state’s business organizations code.
The loan file should include a Certificate of Formation or Declaration of Trust, and any amendments. For a Texas REIT this may be obtained from the Secretary of State at www.sos.state.tx.us or by telephoning (512) 463-5555.
The loan file should include a copy of the Bylaws certified by the trust managers.
The loan file should include a Certificate of Fact: Status. For a Texas REIT this may be obtained from the Secretary of State online or by telephoning 512-463-5578.
The loan file should include a copy of the resolutions of the managers authorizing the REIT to borrow money, pledge collateral or guarantee indebtedness. The Entity Authorization located at the end of this Chapter can be used for this purpose.
A REIT conducting business in Texas must file an Assumed Name Certificate which lists each trustee manager. A copy of the Certificate of Fact: Assumed Name should be obtained from the Texas Secretary of State online or by telephoning (512) 463-5578. A sample Assumed Name Certificate form, with instructions, is located at the end of this Chapter.
NOTE: The provisions of the Texas Assumed Business or Professional Name Act (located in the back of this Guide) require a REIT to file its Assumed Name Certificate with the Secretary of State.
NOTE: The name of a Texas REIT is sufficient for purposes of a UCC-1 financing statement only if that name matches the name shown on its Certificate of Formation or Declaration of Trust.