Texas § 4005.015 NONPROFITS.

Texas Statutes

§ 4005.015 — NONPROFITS.

Texas § 4005.015

Code GVGovernment Code

This text of Texas § 4005.015 (NONPROFITS.) 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. Government Code Code Ann. § 4005.015 (2026).

Text

Sec. 4005.015. NONPROFITS. The exemption provided by Section 4005.001 applies to the disposition of a security or membership:

(1)issued by a corporation or association:

(A)that is organized exclusively for a religious, educational, benevolent, fraternal, charitable, or reformatory purpose;

(B)that is not organized for pecuniary profit; and

(C)for which no part of the net earnings inures to the benefit of any stockholder, shareholder, or individual member of the corporation or association; and

(2)for which no commission or remuneration is paid or given or is to be paid or given.

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Sec. 4005.015. NONPROFITS. The exemption provided by Section 4005.001 applies to the disposition of a security or membership:
(1) issued by a corporation or association:
(A) that is organized exclusively for a religious, educational, benevolent, fraternal, charitable, or reformatory purpose;
(B) that is not organized for pecuniary profit; and
(C) for which no part of the net earnings inures to the benefit of any stockholder, shareholder, or individual member of the corporation or association; and
(2) for which no commission or remuneration is paid or given or is to be paid or given.