Texas Local Government Code 303.024 – Articles of Incorporation
(a) The articles of incorporation of the corporation must include:
(1) the corporation’s name;
(2) a statement that the corporation is a nonprofit public corporation;
(3) the duration of the corporation, which may be perpetual;
(4) a statement that the purpose of the corporation is to assist its sponsor in financing, refinancing, or providing public facilities;
(5) a statement that the corporation has no members and is a nonstock corporation;
(6) the street address of the corporation’s initial registered office and the name of its initial registered agent at that address;
(7) the number of directors on the initial board of directors and those directors’ names and addresses;
(8) each incorporator’s name and street address;
(9) the sponsor’s name and address; and
(10) a statement that the sponsor has specifically authorized the corporation to act on its behalf to further the public purpose set forth in the articles of incorporation and has approved the articles of incorporation.
(b) The corporate powers listed in this chapter are not required to be included in the articles of incorporation.
Terms Used In Texas Local Government Code 303.024
- 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.
- 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 articles of incorporation may include provisions for the regulation of the internal affairs of the corporation, including a provision required or permitted by this chapter to be in the bylaws.
(d) Unless the articles of incorporation provide that a change in the number of directors may be made only by amendment to those articles, a change may be made by amendment to the bylaws.
(e) A provision of the articles of incorporation that requires the vote or concurrence of a greater proportion of the board of directors than this chapter controls over this chapter.