Texas Local Government Code 504.003 – Authority to Create Corporation
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(a) A municipality may authorize the creation under this subtitle of a Type A corporation.
(b) A municipality may not authorize the creation of more than one Type A corporation.
Terms Used In Texas Local Government Code 504.003
- 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