Texas Local Government Code 379H.004 – Applicability of Other Law
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Terms Used In Texas Local Government Code 379H.004
- 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 land bank created under this chapter:
(1) is:
(A) a governmental unit, as defined by Section 101.001, Civil Practice and Remedies Code;
(B) a local government corporation, as defined by Section 431.003, Transportation Code; and
(C) a public nonprofit corporation that has and may exercise all of the rights, powers, privileges, authority, and functions given by the general laws of this state to nonprofit corporations in this state;
(2) is not:
(A) a program created or operating under Chapter 373 or 374; or
(B) a housing finance corporation created under Chapter 394; and
(3) must comply with the requirements of Chapters 551 and 552, Government Code.