Section 253.103 - Corporate Loans(a) A corporation may not make a loan to a candidate, officeholder, or political committee for campaign or officeholder purposes unless: (1) the corporation has been legally and continuously engaged in the business of lending money for at least one year before the loan is made; and(2) the loan is made in the due course of business.(b) This section does not apply to a loan covered by Section 253.096.(c) A person who violates this section commits an offense. An offense under this section is a felony of the third degree.Tex. Elec. Code § 253.103
Amended by Acts 1987, 70th Leg., ch. 899, Sec. 1, eff. 9/1/1987.