Sec. 16.006. ABILITY TO CONTRACT. (a) To carry out and promote the objectives of this chapter, a financial regulatory agency may enter into contracts and do all other acts incidental to those contracts that are necessary for the administration of the agency's affairs and for the attainment of the agency's purposes, except as limited by Subsection (b).
(b) Any indebtedness, liability, or obligation of the financial regulatory agency incurred under this section may not:
(1) create a debt or other liability of this state or another entity other than the financial regulatory agency; or
(2) create any personal liability on the part of the members of the policy-making body or the body's or agency's employees.
Added by Acts 2009, 81st Leg., R.S., Ch. 1317 (H.B. 2774), Sec. 28(a), eff. September 1, 2009.
Structure Texas Statutes
Title 2 - Financial Regulatory Agencies
Chapter 16 - Financial Regulatory Agencies: Self-Directed and Semi-Independent
Section 16.002. Self-Directed and Semi-Independent Status of Financial Regulatory Agencies
Section 16.003. Budget, Revenues, and Expenses
Section 16.005. Records; Reporting Requirements
Section 16.006. Ability to Contract
Section 16.009. Post-Participation Liability
Section 16.010. Due Process; Open Government