Texas § 16.006 ABILITY TO CONTRACT.

Texas Statutes

§ 16.006 — ABILITY TO CONTRACT.

Texas § 16.006

Code FIFinance Code

This text of Texas § 16.006 (ABILITY TO CONTRACT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 16.006 (2026).

Text

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.

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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.