Sec. 3503.112. NONPROFIT CORPORATIONS FOR SPECIAL PROJECTS. (a) The authority may authorize by resolution the creation of a nonprofit corporation under the Business Organizations Code solely to undertake on behalf of the authority a project described by Section 3503.003(a)(3).
(b) The board shall appoint the board of directors of each nonprofit corporation created under this section. A board member is not required to reside in the authority.
(c) A board member or employee of the authority may simultaneously serve as a member of the board of directors of a nonprofit corporation. A person serving as a board member of the authority and of a nonprofit corporation created under this section may participate in all votes relating to the business of the authority or the corporation.
(d) The nonprofit corporation may not exercise the power of eminent domain.
(e) A nonprofit corporation created under this section is subject to Chapters 551 and 552, Government Code.
Added by Acts 2017, 85th Leg., R.S., Ch. 993 (H.B. 967), Sec. 2, eff. September 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle B - Defense Base Development
Chapter 3503 - Texamericas Center
Subchapter C. Powers and Duties
Section 3503.101. General Powers and Duties
Section 3503.1015. Additional Powers of Other Entities; Bonds
Section 3503.102. General Property Powers
Section 3503.103. Water, Sewer, and Natural Gas Projects; Eminent Domain
Section 3503.104. Waste Disposal
Section 3503.105. Other Powers Related to Water
Section 3503.108. Limitation on Use of Eminent Domain
Section 3503.110. Assumed Name
Section 3503.111. Nonprofit Corporations
Section 3503.112. Nonprofit Corporations for Special Projects
Section 3503.113. Powers and Authorities of Defense Base Development Authority