Texas Local Government Code 502.101 – Training Regarding Operation of Corporation
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(a) At least once in each 24-month period, the following persons associated with a corporation shall attend a training seminar regarding the operation of a corporation created under this subtitle:
(1) the municipal attorney, administrator, or clerk of the municipality that authorized the creation of the corporation; and
(2) the corporation’s executive director or other person responsible for the corporation’s daily administration.
(b) The training seminar must provide at least six hours of instruction on topics relating to the legal and proper operation of a corporation created under this subtitle.
Terms Used In Texas Local Government Code 502.101
- 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
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The training seminar must be held at least four times each calendar year in a different geographical region of this state.
(d) A corporation may spend corporate revenue to pay for required attendance at the training seminar.