Tex. Transp. Code § 431.024 – Form of Corporation | Midpage

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§ 431.024

Tex. Transp. Code § 431.024

Form of Corporation

Effective Sep 1, 1995Acts 1995, 74th Leg., ch. 165

(a) A corporation is a nonmember, nonstock corporation.
(b) A corporation is nonprofit, and its earnings may not benefit a private interest.
(c) A corporation may be created as a perpetual corporation.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.