Tex. Spec. Dist. Local Laws Code § 3503.111 · Subchapter C. POWERS AND DUTIES
NONPROFIT CORPORATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The authority may authorize by resolution the incorporation of a nonprofit corporation under the Business Organizations Code to exercise the powers granted to the authority. A corporation created under this section must be a nonmember, nonstock corporation.
(b) Each nonprofit corporation created under this section may:
(1) acquire and hold title to real property and improvements to that property; and
(2) collect and remit to the authority income, less expenses, from that real property and from improvements to that property.
(c) The board shall appoint the board of directors of each nonprofit corporation created under this section. A board member is not required to reside in the authority.
(d) A board member or employee of the authority may simultaneously serve as a member of the board of directors of a nonprofit corporation. A person serving as a board member of the authority and of a nonprofit corporation created by the authority may participate in all votes relating to the business of the authority or the corporation, regardless of any statutory prohibition.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 493 (S.B. 1563), Sec. 1, eff. June 16, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3503.htm
- Text hash
- sha256 7b7a419881cf1f54296898bb2ea550edd54fa3b8f40e56b58c7a90534199fef5
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Spec. Dist. Local Laws Code § 3503.111. Each shows the citation as that text prints it.
Special District Local Laws Code
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