Sec. 200.005. SUPPLEMENTARY POWERS OF REAL ESTATE INVESTMENT TRUST. (a) Subject to Section 2.113(a) and in addition to the powers specified in Section 2.101, a real estate investment trust may engage in activities mandated or authorized by:
(1) provisions of the Internal Revenue Code that are related to or govern real estate investment trusts; and
(2) regulations adopted under the Internal Revenue Code.
(b) This section does not authorize a real estate investment trust or an officer or trust manager of a real estate investment trust to exercise a power in a manner inconsistent with a limitation on the purposes or powers of the real estate investment trust contained in:
(1) the trust's certificate of formation;
(2) this code; or
(3) another law of this state.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Section: Previous 200.001 200.002 200.003 200.004 200.005 200.006 200.051 200.052 200.053 200.054 200.055 200.056 200.057 200.058 200.059 NextLast modified: September 28, 2016