Tex. Bus. Org. Code § 23.109

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 23.109 - Authority Regarding Loans

(a) A grand body incorporated under this subchapter may:

(1) loan money held and owned by the grand body for charitable purposes, for the endowment of any of the institutions of the grand body, or otherwise; and

(2) secure loans by taking and receiving liens on real property or by another method elected by the grand body.

(b) On sale of real property secured by a lien, a grand body may become the purchaser of the real property and hold title to the property.

Tex. Bus. Org. Code § 23.109

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.