Sec. 13.303. LOANS TO STOCKHOLDERS: REPORT. A utility may not loan money, stocks, bonds, notes, or other evidences of indebtedness to any corporation or person owning or holding directly or indirectly any stock of the utility unless the utility reports the transaction to the utility commission within 60 days after the date of the transaction.
Added by Acts 1985, 69th Leg., ch. 795, Sec. 3.005, eff. Sept. 1, 1985. Amended by Acts 1989, 71st Leg., ch. 567, Sec. 35, eff. Sept. 1, 1989.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 170 (H.B. 1600), Sec. 2.61, eff. September 1, 2013.
Acts 2013, 83rd Leg., R.S., Ch. 171 (S.B. 567), Sec. 61, eff. September 1, 2013.
Structure Texas Statutes
Title 2 - Water Administration
Chapter 13 - Water Rates and Services
Subchapter H. Sale of Property and Mergers
Section 13.301. Report of Sale, Merger, Etc
Section 13.3011. Initial Rates for Certain Water or Sewer Systems After Purchase or Acquisition
Section 13.302. Purchase of Voting Stock in Another Public Utility: Report
Section 13.303. Loans to Stockholders: Report
Section 13.304. Foreclosure Report
Section 13.305. Voluntary Valuation of Acquired Utility or Facilities