Tex. Transp. Code § 431.107 · Subchapter D. LOCAL GOVERNMENT CORPORATIONS
INCOME OF LOCAL GOVERNMENT CORPORATION.
Verbatim from the official edition
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A local government creating a local government corporation is entitled at any time to receive any income earned by the local government corporation that is not needed to pay the corporation's expenses or obligations.
(b) The earnings of a local government corporation may not benefit a private interest.
Notes and commentary — not statutory text
History
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/TN/htm/TN.431.htm
- Text hash
- sha256 ad922446ed3ab1fcc5b949ca04e6fa44c05a732432b628d7bb2e4ed1995d250a
- 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.