Tex. Health & Safety Code § 221.034 · Subchapter B. CREATION AND OPERATION OF DEVELOPMENT CORPORATION
NET EARNINGS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
A development corporation is a nonprofit corporation, and no part of its net earnings remaining after payment of its bonds and expenses of accomplishing its public purpose may benefit a person other than the sponsoring entity.
Notes and commentary — not statutory text
History
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/HS/htm/HS.221.htm
- Text hash
- sha256 9c7d7c08851971e35c6ea8e6ddcea46a11d184227a5d956b4e54777778628590
- 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
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.