Texas § OC.2001.153 - RESTRICTIONS ON SOURCE OF FUNDS
Full text of Texas The Texas Constitution § OC.2001.153 — RESTRICTIONS ON SOURCE OF FUNDS, with citation guidance and answers to common questions.
§ OC.2001.153. RESTRICTIONS ON SOURCE OF FUNDS
RESTRICTIONS ON SOURCE OF FUNDS. (a) The commission may not issue a commercial lessor license to a person unless the commission receives evidence the commission considers adequate that funds used by the person seeking the license to obtain the premises, provide the premises with furniture, fixtures, or equipment, renovate the premises, or provide utilities to the premises are: (1) the person's own funds; or (2) the funds of another person, including loan proceeds, that: (A) were obtained in an arms-length transaction that was commercially reasonable under the circumstances; and (B) were not obtained under an expectation or obligation that the person from whom the funds were obtained would directly participate in, or have a legal interest in, rents obtained under the license or revenues or profits from the conduct of bingo on the premises. (b) Subsection (a) does not prohibit a group of licensed authorized organizations from combining the organizations' funds or combining or jointly obtaining funds described by Subsection (a)(2). Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § OC.2001.153
What does The Texas Constitution § OC.2001.153 cover?
Section OC.2001.153 ("RESTRICTIONS ON SOURCE OF FUNDS") 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 § OC.2001.153?
A common citation format is "The Texas Constitution § OC.2001.153" (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 § OC.2001.153 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.