Sec. 152.051. CREATION OF NONPROFIT CORPORATION. (a) The board of directors of a river authority by order may create one or more nonprofit corporations to act on behalf of the river authority as its authority and instrumentality.
(b) The Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) applies to a corporation created under this section.
(c) Sections 501.052, 501.053, 501.056, 501.057(b) and (c), 501.058, 501.062, 501.063, 501.064, except as that section applies to amending a corporation's bylaws, 501.065, 501.066, 501.068-501.072, 501.401-501.406, and Subchapters G and H, Chapter 501, Local Government Code, apply to a corporation created under this section, except that in those sections:
(1) a reference to the Development Corporation Act (Subtitle C1, Title 12, Local Government Code) includes this chapter; and
(2) a reference to a unit includes a river authority to which this chapter applies.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.75, eff. April 1, 2009.
Structure Texas Statutes
Title 5 - Special Law Districts
Chapter 152 - River Authorities Engaged in Distribution and Sale of Electric Energy
Subchapter B. Nonprofit Corporation Acting on Behalf of River Authority
Section 152.051. Creation of Nonprofit Corporation
Section 152.052. Powers of Nonprofit Corporation
Section 152.053. Board of Directors
Section 152.054. Supervision by Board of Directors of River Authority
Section 152.055. Liability of Corporate Property for Taxes and Special Assessments
Section 152.056. Transfer of River Authority Assets to Corporation
Section 152.057. Application of Other Law to River Authority