(a) The corporation shall review annually its qualified 501(c)(3) bond issuance policies, including the public benefit requirement implemented under § 2306.563.
(b) The corporation shall give to the secretary of state for publication in the Texas Register any proposed policy revisions and allow a reasonable period for public comment.

Terms Used In Texas Government Code 2306.564

  • 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.

(c) The board of directors of the corporation must approve any change to the bond issuance policies.

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