Sec. 253.103. CORPORATE LOANS. (a) A corporation may not make a loan to a candidate, officeholder, or political committee for campaign or officeholder purposes unless:
(1) the corporation has been legally and continuously engaged in the business of lending money for at least one year before the loan is made; and
(2) the loan is made in the due course of business.
(b) This section does not apply to a loan covered by Section 253.096.
(c) A person who violates this section commits an offense. An offense under this section is a felony of the third degree.
Amended by Acts 1987, 70th Leg., ch. 899, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 15 - Regulating Political Funds and Campaigns
Chapter 253 - Restrictions on Contributions and Expenditures
Subchapter D. Corporations and Labor Organizations
Section 253.091. Corporations Covered
Section 253.092. Treatment of Incorporated Political Committee
Section 253.093. Certain Associations Covered
Section 253.094. Contributions Prohibited
Section 253.095. Punishment of Agent
Section 253.096. Contribution on Measure
Section 253.097. Contribution From Corporation or Labor Organization
Section 253.098. Communication With Stockholders or Members
Section 253.099. Nonpartisan Voter Registration and Get-Out-the-Vote Campaigns
Section 253.100. Expenditures for General-Purpose Committee
Section 253.101. Unlawful Contribution or Expenditure by Committee
Section 253.102. Coercion Prohibited
Section 253.103. Corporate Loans
Section 253.104. Contribution to Political Party
Section 253.105. Contributions to Direct Expenditure Only Committees