Tex. Bus. Org. Code § 200.005

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

Section 200.005 - Supplementary Powers of Real Estate Investment Trust

(a) Subject to Section 2.113(a) and in addition to the powers specified in Section 2.101, a real estate investment trust may engage in activities mandated or authorized by:

(1) provisions of the Internal Revenue Code that are related to or govern real estate investment trusts; and

(2) regulations adopted under the Internal Revenue Code.

(b) This section does not authorize a real estate investment trust or an officer or trust manager of a real estate investment trust to exercise a power in a manner inconsistent with a limitation on the purposes or powers of the real estate investment trust contained in:

(1) the trust's certificate of formation;

(2) this code; or

(3) another law of this state.

Tex. Bus. Org. Code § 200.005

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