(a) A nonprofit association may execute and record a statement of authority to transfer an estate or interest in real property in the name of the nonprofit association.
(b) An estate or interest in real property in the name of a nonprofit association may be transferred by a person so authorized in a statement of authority recorded in the county clerk’s office in the county in which a transfer of the property would be recorded.
Terms Used In Texas Business Organizations Code 252.005
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Association: means an entity governed as an association under Title 6 or 7. See Texas Business Organizations Code 1.002
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Law: means , unless the context requires otherwise, both statutory and common law. See Texas Business Organizations Code 1.002
- Nonprofit association: means an association governed as a nonprofit association under Chapter Texas Business Organizations Code 1.002
- Person: means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a series of a domestic limited liability company or foreign entity. See Texas Business Organizations Code 1.002
- Property: includes tangible and intangible property and an interest in that property. See Texas Business Organizations Code 1.002
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(c) A statement of authority must contain:
(1) the name of the nonprofit association;
(2) the address in this state, including the street address, if any, of the nonprofit association, or, if the nonprofit association does not have an address in this state, its address out of state; and
(3) the name or title of a person authorized to transfer an estate or interest in real property held in the name of the nonprofit association.
(d) A statement of authority must be executed in the same manner as a deed by a person who is not the person authorized to transfer the estate or interest.
(e) The county clerk may collect a fee for recording a statement of authority in the amount authorized for recording a transfer of real property.
(f) An amendment, including a cancellation, of a statement of authority must meet the requirements for execution and recording of an original statement. Unless canceled earlier, a recorded statement of authority or its most recent amendment is canceled by operation of law on the fifth anniversary of the date of the most recent recording.
(g) If the record title to real property is in the name of a nonprofit association and the statement of authority is recorded in the county clerk’s office of the county in which a transfer of real property would be recorded, the authority of the person named in a statement of authority is conclusive in favor of a person who gives value without notice that the person lacks authority.