Texas § 3503.112 NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES.

Texas Statutes

§ 3503.112 — NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES.

Texas § 3503.112

Code SDSpecial District Local Laws Code

This text of Texas § 3503.112 (NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES.) 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. Special District Local Laws Code Code Ann. § 3503.112 (2026).

Text

Sec. 3503.112. NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES.

(a)The authority may authorize by resolution the creation of a nonprofit corporation under the Business Organizations Code to undertake on behalf of the authority a project described by Section 3503.003 or carry out any other purpose described by that section on the authority's behalf. (a-1) After the creation of a nonprofit corporation under Subsection (a), the authority may authorize by resolution:

(1)the creation of a limited liability company under the Business Organizations Code for the purposes described by Subsection (a); and

(2)the designation of the nonprofit corporation described by Subsection (a) to participate as a member of the company.

(b)The board shall appoint the board of directors of each nonprofit

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Sec. 3503.112. NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES. (a) The authority may authorize by resolution the creation of a nonprofit corporation under the Business Organizations Code to undertake on behalf of the authority a project described by Section 3503.003 or carry out any other purpose described by that section on the authority's behalf.
(a-1) After the creation of a nonprofit corporation under Subsection (a), the authority may authorize by resolution:
(1) the creation of a limited liability company under the Business Organizations Code for the purposes described by Subsection (a); and
(2) the designation of the nonprofit corporation described by Subsection (a) to participate as a member of the company.
(b) The board shall appoint the board of directors of each nonprofit corporation or limited liability company 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 or limited liability company created under this section. A person serving as a board member of the authority and of a nonprofit corporation or limited liability company created under this section may participate in all votes relating to the business of the authority, corporation, or company.
(d) A nonprofit corporation or limited liability company created under this section may not exercise the power of eminent domain.
(e) A nonprofit corporation or limited liability company created under this section is subject to Chapters 551 and 552 , Government Code.

Legislative History

Added by Acts 2017, 85th Leg., R.S., Ch. 993 (H.B. 967 ), Sec. 2, eff. September 1, 2017. Amended by: Acts 2023, 88th Leg., R.S., Ch. 112 (S.B. 1187 ), Sec. 2, eff. May 23, 2023.