Texas Special District Local Laws Code 3875.072 – Qualifications
Current as of: 2024 | Check for updates
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Terms Used In Texas Special District Local Laws Code 3875.072
- 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
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
To be qualified to serve as an elected director, a person must be at least 18 years of age and be:
(1) a resident of the district;
(2) an owner of real property in the district;
(3) an owner of at least 10 percent of the outstanding interest of a corporation or general or limited partnership that owns real property in the district; or
(4) an agent, employee, officer, or director of any corporation or partnership that owns real property in the district.