Texas Transportation Code 131.062 – Supply and Sale of Electricity by Street, Suburban, or Belt Line Railway
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Terms Used In Texas Transportation Code 131.062
- 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.
A corporation organized under the general laws of this state that owns or operates with electric power any street or suburban railway or belt line of railways in and near a municipality for the transportation of freight and passengers within this state may:
(1) supply and sell electric light and power to the public or a municipality;
(2) acquire or otherwise provide appliances necessary for an activity authorized by Subdivision (1); and
(3) in the manner provided by law, amend its articles of incorporation to expressly include the authority under this section.