GroundRules
Tex. Local Government Code § 303.043: NET EARNINGS.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 9. PUBLIC BUILDINGS AND GROUNDS
- SUBTITLE C. PUBLIC BUILDING PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT
- CHAPTER 303. PUBLIC FACILITY CORPORATIONS
- SUBCHAPTER B. CREATION AND OPERATION OF PUBLIC FACILITY CORPORATION
No part of a corporation's net earnings remaining after payment of its bonds and expenses in accomplishing its public purpose may benefit a person other than the sponsor of the corporation.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999.
Collected 2026-08-27T01:47:27Z. Source file · JSON