Texas Business Organizations Code - Section 23.109. Authority Regarding Loans
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§ 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.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 23.102 23.103 23.104 23.105 23.106 23.107 23.108 23.109 23.110 101.001 101.051 101.052 101.053 101.054 101.101
Last modified: August 11, 2007
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