Texas Water Code 7.301 – Definition
Current as of: 2024 | Check for updates
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Terms Used In Texas Water Code 7.301
- 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.
- Rule: includes regulation. See Texas Government Code 311.005
In this subchapter:
(1) “License,” “certificate,” “registration,” and “exemption” have the meanings assigned by commission rule.
(2) “Permit holder” or “holder of a permit” includes each member of a partnership or association and, with respect to a corporation, each officer and the owner or owners of a majority of the corporate stock, provided such partner or owner controls at least 20 percent of the permit holder.