Sec. 303.043. NET EARNINGS. No part of a corporation's net earnings remaining after payment of its bonds and expenses in accomplishing its public purpose may benefit a person other than the sponsor of the corporation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 9 - Public Buildings and Grounds
Subtitle C - Public Building Provisions Applying to More Than One Type of Local Government
Chapter 303 - Public Facility Corporations
Subchapter B. Creation and Operation of Public Facility Corporation
Section 303.021. Authority to Create
Section 303.022. Creation Under Other Law
Section 303.024. Articles of Incorporation
Section 303.025. Certificate of Incorporation; Beginning of Corporate Existence
Section 303.026. Organizational Meeting
Section 303.028. Certificate of Amendment
Section 303.029. Restated Articles of Incorporation
Section 303.030. Restated Certificate of Incorporation
Section 303.031. Registered Office and Agent
Section 303.032. Change of Registered Office or Agent
Section 303.033. Resignation of Registered Agent
Section 303.034. Agents for Service
Section 303.037. Indemnification
Section 303.040. Meetings; Quorum
Section 303.041. Corporation's General Powers
Section 303.044. Open Meetings; Open Records
Section 303.045. Alteration of Corporation or Activities