Texas § SD.3503.111 - NONPROFIT CORPORATIONS
Full text of Texas The Texas Constitution § SD.3503.111 — NONPROFIT CORPORATIONS, with citation guidance and answers to common questions.
§ SD.3503.111. NONPROFIT CORPORATIONS
NONPROFIT CORPORATIONS. (a) The authority may authorize by resolution the incorporation of a nonprofit corporation under the Business Organizations Code to exercise the powers granted to the authority. A corporation created under this section must be a nonmember, nonstock corporation. (b) Each nonprofit corporation created under this section may: (1) acquire and hold title to real property and improvements to that property; and (2) collect and remit to the authority income, less expenses, from that real property and from improvements to that property. (c) The board shall appoint the board of directors of each nonprofit corporation created under this section. A board member is not required to reside in the authority. (d) A board member or employee of the authority may simultaneously serve as a member of the board of directors of a nonprofit corporation. A person serving as a board member of the authority and of a nonprofit corporation created by the authority may participate in all votes relating to the business of the authority or the corporation, regardless of any statutory prohibition. Added by Acts 2015, 84th Leg., R.S., Ch. 493 (S.B. 1563 ), Sec. 1, eff. June 16, 2015.
Frequently Asked Questions About Texas § SD.3503.111
What does The Texas Constitution § SD.3503.111 cover?
Section SD.3503.111 ("NONPROFIT CORPORATIONS") 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 § SD.3503.111?
A common citation format is "The Texas Constitution § SD.3503.111" (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 § SD.3503.111 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.