Texas Local Government Code 303.022 – Creation Under Other Law
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Terms Used In Texas Local Government Code 303.022
- 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.
A nonprofit corporation created by a housing authority under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon’s Texas Civil Statutes), regardless of the date the corporation is created, is considered a corporation under this chapter, has the rights and powers necessary or convenient to accomplish a corporation’s purposes under this chapter, and is subject to the requirements of this chapter.