GroundRules
Tex. Utilities Code § 181.003: AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY.
Where this section sits in the code
- UTILITIES CODE
- TITLE 4. DELIVERY OF UTILITY SERVICES
- SUBTITLE B. PROVISIONS REGULATING DELIVERY OF SERVICES
- CHAPTER 181. MISCELLANEOUS POWERS AND DUTIES OF UTILITIES
- SUBCHAPTER A. POWERS AND DUTIES OF GAS AND ELECTRIC CORPORATIONS
A gas or electric corporation has the right to:
(1) borrow money;
(2) issue stock, including preferred stock; or
(3) mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Collected 2026-08-27T01:47:45Z. Source file · JSON