Tex. Loc. Gov't Code § 303.043 · Subchapter B. CREATION AND OPERATION OF PUBLIC FACILITY CORPORATION
NET EARNINGS.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
No part of a corporation's net earnings remaining after payment of its bonds and expenses in accomplishing its public purpose may benefit a person other than the sponsor of the corporation.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.303.htm
- Text hash
- sha256 2d7b7aac6121fc16a26a574c8e13b193213f8ffcf96933f1626ee3ee56acf9a6
- 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.