Tex. Elec. Code § 253.103 · Subchapter D. CORPORATIONS AND LABOR ORGANIZATIONS
CORPORATE LOANS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A corporation may not make a loan to a candidate, officeholder, or political committee for campaign or officeholder purposes unless:
(1) the corporation has been legally and continuously engaged in the business of lending money for at least one year before the loan is made; and
(2) the loan is made in the due course of business.
(b) This section does not apply to a loan covered by Section 253.096.
(c) A person who violates this section commits an offense. An offense under this section is a felony of the third degree.
Notes and commentary — not statutory text
History
Amended by Acts 1987, 70th Leg., ch. 899, Sec. 1, eff. Sept. 1, 1987.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/EL/htm/EL.253.htm
- Text hash
- sha256 086cc8cc3ab5e65989d5ba38ee0028f9dea693cc3c7cded1852f74b0de803c27
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.