Texas Transportation Code 431.003 – Definitions
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Terms Used In Texas Transportation Code 431.003
- 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.
In this chapter:
(1) “Board” means the board of directors of a corporation organized under this chapter.
(2) “Corporation” means a corporation organized under this chapter and includes a local government corporation.
(3) “Local government” means:
(A) a municipality;
(B) a county; or
(C) for purposes of Subchapter D:
(i) a navigation district, hospital district, or hospital authority;
(ii) a regional transportation authority governed by Chapter 452;
(iii) a rapid transit authority governed by Chapter 451; or
(iv) a coordinated county transportation authority governed by Chapter 460.
(4) “Local government corporation” means a corporation incorporated as provided by Subchapter D to act on behalf of a local government.