Texas Local Government Code Chapter 326 > Subchapter C – District Administration
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Terms Used In Texas Local Government Code Chapter 326 > Subchapter C - District Administration
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Quorum: The number of legislators that must be present to do business.
- Trustee: A person or institution holding and administering property in trust.