Tex. Util. Code § 162.125 · Subchapter C. POWERS OF TELEPHONE COOPERATIVE
ENCUMBRANCE AND DISPOSITION OF PROPERTY WITHOUT MEMBERS' AUTHORIZATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board of a telephone cooperative may, without authorization of the members, authorize the execution and delivery of a mortgage or deed of trust of or the encumbering of any property of the cooperative, including property to be acquired and the revenues from property of the cooperative, to secure any indebtedness of the cooperative to the United States or any lending institution licensed by the United States or a state.
(b) A mortgage or deed of trust described by Subsection (a) is exempt from a tax for recording the instrument.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/UT/htm/UT.162.htm
- Text hash
- sha256 7d51b4c04d9d243ca74374049882eef7bba0f3e28dfd829e26cba8e1cf726657
- 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 2 provisions
Provisions in this library whose text cites Tex. Util. Code § 162.125. Each shows the citation as that text prints it.
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.