Terms Used In Texas Property Code 80.002

  • 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.
  • Property: means real and personal property. See Texas Government Code 311.005

In this chapter:
(1) “Museum” means an institution located in this state and operated by a nonprofit corporation or public agency, primarily educational, scientific, or aesthetic in purpose, that owns, borrows, or cares for and studies, archives, or exhibits property.
(2) “Lender” means a person whose name appears on the records of a museum as the person entitled to property held or owed by the museum.
(3) “Loan,” “loaned,” and “on loan” include all deposits of property with a museum that are not accompanied by a transfer of title to the property.
(4) “Property” or “cultural property” means all tangible objects, animate and inanimate, under a museum’s care that have intrinsic, scientific, historic, artistic, or cultural value.