Texas § FI.183.203 - CONTRACTING FOR DEBT OR OBLIGATION
Full text of Texas The Texas Constitution § FI.183.203 — CONTRACTING FOR DEBT OR OBLIGATION, with citation guidance and answers to common questions.
§ FI.183.203. CONTRACTING FOR DEBT OR OBLIGATION
CONTRACTING FOR DEBT OR OBLIGATION. Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by: (1) a majority of the managers, if management of the limited trust association has been vested in a board of managers; (2) a majority of the managing participants; or (3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation. Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 575 (S.B. 804 ), Sec. 27, eff. June 14, 2013.
Frequently Asked Questions About Texas § FI.183.203
What does The Texas Constitution § FI.183.203 cover?
Section FI.183.203 ("CONTRACTING FOR DEBT OR OBLIGATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.183.203?
A common citation format is "The Texas Constitution § FI.183.203" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.183.203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.