Texas Government Code 1232.067 – General Powers
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Terms Used In Texas Government Code 1232.067
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The board may:
(1) exercise, to the extent practicable, all powers given to a corporation under the general laws of the state;
(2) have perpetual succession by its corporate name;
(3) sue and be sued in its corporate name;
(4) adopt a seal for use as the board considers appropriate;
(5) accept gifts; and
(6) adopt rules and perform all functions reasonably necessary for the board to administer its functions prescribed by this chapter.