Tex. Spec. Dists. Code § 1018.119

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

Section 1018.119 - Nonprofit Corporation

(a) The district may create, sponsor, and have a membership interest in a nonprofit corporation under the Business Organizations Code and may contribute money to or solicit money for the corporation.

(a-1) Expired.

(b) The corporation created may use money, other than money the corporation pays to the district, only to provide health care or other services the district is authorized to provide under this chapter.

(c) The corporation may invest the corporation's money in any manner in which the district may invest the district's money, including investing money as authorized by Chapter 2256, Government Code.

(d) The board shall establish controls to ensure that the corporation uses its money as required by this section.

(e) Expired.

Tex. Spec. Dist. Loc. Laws § 1018.119

Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.02, eff. 4/1/2009.