Texas § TX.171.082 - EXEMPTION--CERTAIN HOMEOWNERS' ASSOCIATIONS
Full text of Texas The Texas Constitution § TX.171.082 — EXEMPTION--CERTAIN HOMEOWNERS' ASSOCIATIONS, with citation guidance and answers to common questions.
§ TX.171.082. EXEMPTION--CERTAIN HOMEOWNERS' ASSOCIATIONS
EXEMPTION--CERTAIN HOMEOWNERS' ASSOCIATIONS. (a) A nonprofit corporation is exempted from the franchise tax if: (1) the corporation is organized and operated primarily to obtain, manage, construct, and maintain the property in or of a residential condominium or residential real estate development; and (2) the owners of individual lots, residences, or residential units control at least 51 percent of the votes of the corporation and that voting control, however acquired, is not held by: (A) a single individual or family; or (B) one or more developers, declarants, banks, investors, or other similar parties. (b) For purposes of this section, a condominium project is considered residential if the project is legally restricted for use as residences. A real estate development is considered residential if the property is legally restricted for use as residences. Acts 1981, 67th Leg., p. 2758, ch. 752, Sec. 4, eff. May 1, 1982. Amended by Acts 1995, 74th Leg., ch. 1002, Sec. 9, eff. Jan. 1, 1996.
Frequently Asked Questions About Texas § TX.171.082
What does The Texas Constitution § TX.171.082 cover?
Section TX.171.082 ("EXEMPTION--CERTAIN HOMEOWNERS' ASSOCIATIONS") 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 § TX.171.082?
A common citation format is "The Texas Constitution § TX.171.082" (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 § TX.171.082 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.