Texas Local Government Code 379H.101 – Creation of Land Bank
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(a) The governing body of a municipality may create a land bank by the adoption of an ordinance approving the land bank’s certificate of formation and bylaws.
(b) Approval by the governing body of a municipality of the certificate of formation and bylaws of a corporation created under Chapter 431, Transportation Code, that will serve as a land bank under this chapter is sufficient to create a land bank under this section.
Terms Used In Texas Local Government Code 379H.101
- 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.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
(c) A land bank’s certificate of formation and bylaws approved under this section may not be changed or amended unless the governing body of the municipality for which the land bank was created approves the change or amendment by the adoption of an ordinance.