Sec. 487.701. CREATION OF FOUNDATION. (a) The department shall establish the Texas Rural Foundation as a nonprofit corporation that complies with Chapter 22, Business Organizations Code, except as otherwise provided by this chapter, and qualifies as an organization exempt from federal income tax under Section 501(c)(3), Internal Revenue Code of 1986, as amended.
(b) The department shall ensure that the Texas Rural Foundation operates independently of any state agency or political subdivision of the state.
Transferred from Health and Safety Code, Chapter 110 and amended by Acts 2007, 80th Leg., R.S., Ch. 542 (S.B. 1128), Sec. 1, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 112 (H.B. 1918), Sec. 84, eff. September 1, 2009.
Acts 2013, 83rd Leg., R.S., Ch. 148 (H.B. 1493), Sec. 39, eff. September 1, 2013.
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