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Texas Transportation Code - Section 68.095. Property

Legal Research Home > Texas Lawyer > Transportation Code > Texas Transportation Code - Section 68.095. Property

§ 68.095. PROPERTY.  (a) The association may rent or own 
property, acquire property by gift, purchase, or exchange, and hold 
title to property that is appropriate for its use in carrying out 
the purposes of the association under this chapter.
	(b)  The acquisition, sale, or disposal of permanent assets, 
as distinguished from consumable assets, must be authorized by 
resolution of the association.  The resolution must be adopted in 
open meeting by a two-thirds vote of the membership after notice of 
the date, time, place, and purpose of the meeting.

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

Last modified: August 10, 2007