Sec. 2306.552. CREATION. (a) The existence of the Texas State Affordable Housing Corporation, or any similarly named corporation, begins on the date that the secretary of state issues the certificate of incorporation.
(b) The charter of the corporation must establish the corporation as nonprofit and specifically dedicate the corporation's activities to the public purpose authorized by this subchapter.
(c) The creation of the corporation does not limit or impair the rights, powers, and duties of the department under this chapter.
Added by Acts 1995, 74th Leg., ch. 76, Sec. 5.66(d), eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 47, eff. Sept. 1, 1997.
Section: Previous 2306.511 2306.512 2306.513 2306.514 2306.541 2306.542 2306.551 2306.552 2306.5521 2306.553 2306.554 2306.5541 2306.5542 2306.5543 2306.5545 NextLast modified: September 28, 2016