Tex. Loc. Gov't Code § 337.015 · Subchapter B. CREATION AND OPERATION OF CORPORATION
LIMITATION ON CORPORATE PURPOSES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A municipality or county that creates a corporation may limit the corporation's purposes in the proceedings directing the creation of the corporation by prohibiting the corporation from financing particular types of cultural facilities, including a cultural facility to be used for a purpose specified in the proceedings.
(b) As a condition of providing financing, a corporation may restrict a person receiving financing from using a cultural facility for a particular purpose.
(c) A restriction imposed by a municipality or county on a corporation may be enforced by the governing body of the sponsoring entity by injunction or mandamus.
(d) A violation of a restriction by a corporation may not impair the validity of an obligation incurred by the corporation.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 324 (S.B. 1488), Sec. 20.004(a), eff. September 1, 2017.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.337.htm
- Text hash
- sha256 96109a90d14ab60cfc74fed9db071c96f01cd3626086e33dbe5a13c7e4273b89
- 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.