Sec. 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, Sec. 1, eff. Jan. 1, 2006.
Section: Previous 23.066 23.067 23.068 23.069 23.070 23.071 23.101 23.102 23.103 23.104 23.105 23.106 23.107 23.108 23.109Last modified: September 28, 2016