reglab/housing_qa huggingface dataset:
TX Loc Govt Code § 501.054 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.054. General Powers, Privileges, and Functions

Sec. 501.054.  GENERAL POWERS, PRIVILEGES, AND FUNCTIONS.  (a)  A corporation has the powers, privileges, and functions of a nonprofit corporation incorporated under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes) or formed under the Texas Nonprofit Corporation Law, as described by Section 1.008, Business Organizations Code.  To the extent that the provisions governing powers, privileges, and functions of a nonprofit corporation under those laws are in conflict with or inconsistent with provisions of this subtitle governing powers, privileges, and functions of a nonprofit corporation, the provisions of this subtitle prevail.(b)  A corporation:(1)  has all powers incidental to or necessary for the performance of the powers provided by Sections 501.059, 501.060, 501.064, 501.153-501.155, 501.159, 501.201(a), 501.208, 501.209, 501.214, and 501.402; and(2)  with respect to a project, may exercise all powers necessary or appropriate to effect a purpose for which the corporation is organized, subject to the control of the governing body of the corporation's authorizing unit.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|Sec. 501.055.  CONSTITUTED AUTHORITY OR INSTRUMENTALITY.  (a)  A corporation is a constituted authority and an instrumentality, within the meaning of the United States Department of the Treasury regulations and the Internal Revenue Service rulings adopted under Section 103, Internal Revenue Code of 1986, as amended, including regulations and rulings adopted under Section 103, Internal Revenue Code of 1954, and may act on behalf of the corporation's authorizing unit for the specific public purpose authorized by the unit.(b)  A corporation is not a political subdivision or a political corporation for purposes of the laws of this state, including Section 52, Article III, Texas Constitution.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.056 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.056. Contents of Certificate of Formation

Sec. 501.056.  CONTENTS OF CERTIFICATE OF FORMATION.  The certificate of formation of a corporation must state:(1)  the name of the corporation;(2)  that the corporation is a nonprofit corporation;(3)  the duration of the corporation, which may be perpetual;(4)  the specific purpose for which the corporation is organized and may issue bonds on behalf of the unit;(5)  that the corporation has no members and is a nonstock corporation;(6)  any provision consistent with law for the regulation of the corporation's internal affairs, including any provision required or permitted by this subtitle to be stated in the bylaws;(7)  the street address of the corporation's initial registered office and the name of the corporation's initial registered agent at that address;(8)  the number of directors of the initial board of directors and the name and address of each initial director;(9)  the name and street address of each organizer; and(10)  that the unit has:(A)  by resolution specifically authorized the corporation to act on the unit's behalf to further the public purpose stated in the resolution and the certificate of formation; and(B)  approved the certificate of formation.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.057 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.057. Filing of Certificate of Formation and Delivery of Certificate Evidencing Filing

Sec. 501.057.  FILING OF CERTIFICATE OF FORMATION AND DELIVERY OF CERTIFICATE EVIDENCING FILING.  (a)  If the unit's governing body adopts a resolution under Section 501.051, the certificate of formation may be filed as provided by this section.(b)  Three originals of the certificate of formation shall be delivered to the secretary of state.  If the secretary of state determines that the certificate of formation conforms to this subchapter, the secretary of state shall:(1)  endorse the word "Filed" and the date of the filing on each original certificate of formation;(2)  file one of the original certificates of formation in the secretary of state's office;(3)  issue two certificates evidencing the filing of the certificate of formation;(4)  attach to each certificate evidencing the filing of the certificate of formation an original of the certificate of formation; and(5)  deliver a certificate evidencing the filing of the certificate of formation and the attached certificate of formation to:(A)  the organizers or the organizers' representatives; and(B)  the governing body of:(i)  the corporation's authorizing unit; or(ii)  any county in the county alliance that authorized the creation of the corporation, for a county alliance corporation.(c)  The governing body of a county to which a certificate evidencing the filing of the certificate of formation and the attached certificate of formation are delivered under Subsection (b)(5)(B)(ii) shall provide photocopies of the certificate evidencing the filing of the certificate of formation and the attached certificate of formation to each other member of the county alliance.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.058 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.058. Effect of Issuance of Certificate Evidencing Filing

Sec. 501.058.  EFFECT OF ISSUANCE OF CERTIFICATE EVIDENCING FILING.  (a)  A corporation's existence begins when the certificate evidencing the filing of its certificate of formation is issued.(b)  After the issuance of the certificate evidencing the filing of the certificate of formation, the formation of the corporation may not be contested for any reason.(c)  A certificate evidencing the filing of the certificate of formation is conclusive evidence that:(1)  the organizers and the unit have performed all conditions precedent for the formation of the corporation; and(2)  the corporation is formed under this subtitle.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.059 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.059. Corporate Seal

Sec. 501.059.  CORPORATE SEAL.  A corporation may have a corporate seal and with respect to a project may impress, affix, or otherwise reproduce the seal or a facsimile of the seal on an instrument required to be executed by the corporation's appropriate officers.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.060 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.060. May Sue and Be Sued

Sec. 501.060.  MAY SUE AND BE SUED.  With respect to a project, a corporation may sue, be sued, complain, and defend in the corporation's name.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.061 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.061. Corporation's Organization Not Restricted

Sec. 501.061.  CORPORATION'S ORGANIZATION NOT RESTRICTED.  Except as provided by this subtitle, no proceeding, notice, or approval is required for the organization of a corporation.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.062 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.062. Board of Directors

Sec. 501.062.  BOARD OF DIRECTORS.  (a)  All of the powers of a corporation are vested in a board of directors consisting of three or more directors appointed by the governing body of the corporation's authorizing unit.(b)  A director serves for a term of not more than six years.(c)  The governing body of the corporation's authorizing unit may remove a director for cause or at will.(d)  A director serves without compensation, but is entitled to reimbursement for actual expenses incurred in the performance of the director's duties under this subtitle.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.063 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.063. Organizational Meeting

Sec. 501.063.  ORGANIZATIONAL MEETING.  (a)  After issuance of the certificate evidencing the filing of the certificate of formation, the board of directors named in the certificate of formation shall hold an organizational meeting in this state to adopt bylaws and elect officers and for other purposes.(b)  Not later than the third day before the date of the meeting, the organizers who call the meeting shall give notice by mail of the time and place of the meeting to each director named in the certificate of formation.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.064 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.064. Bylaws

Sec. 501.064.  BYLAWS.  (a)  A corporation may adopt and amend bylaws for the administration and regulation of the corporation's affairs.(b)  The board of directors shall adopt a corporation's initial bylaws.(c)  The bylaws and each amendment of the bylaws must:(1)  be consistent with state law and with the certificate of formation of the corporation; and(2)  be approved by resolution of the governing body of the corporation's authorizing unit.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.065 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.065. Officers

Sec. 501.065.  OFFICERS.  (a)  A corporation has the following officers:(1)  a president;(2)  at least one vice president;(3)  a secretary;(4)  a treasurer; and(5)  other officers or assistant officers considered necessary.(b)  An officer of the corporation is elected or appointed at the time, in the manner, and for the term prescribed by the certificate of formation or bylaws, except that an officer's term may not exceed three years.  In the absence of provisions in the certificate of formation or the bylaws prescribing the selection or terms of officers, the board of directors shall annually elect or appoint officers.(c)  A person may hold more than one office, except that the same person may not hold the offices of president and secretary.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.066 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.066. Indemnification

Sec. 501.066.  INDEMNIFICATION.  (a)  In this section, "director or officer" includes a former director or officer.(b)  Except as provided by Subsection (d), a corporation may indemnify a director or officer of the corporation for necessary expenses and costs, including attorney's fees, actually incurred by the director or officer in connection with a claim asserted against the director or officer, by action in court or another forum, by reason of the director's or officer's being or having been a director or officer of the corporation.(c)  Except as provided by Subsection (d), if a corporation has not fully indemnified a director or officer under Subsection (b), the court in a proceeding in which a claim is asserted against the director or officer or a court having jurisdiction over an action brought by the director or officer on a claim for indemnity may assess indemnity against the corporation or the corporation's receiver or trustee.  The assessment must equal the amount that the director or officer paid to satisfy the judgment or compromise the claim, including attorney's fees and not including any amount paid to the corporation, to the extent that:(1)  the amount paid was actually and necessarily incurred; and(2)  the court considers the amount paid reasonable and equitable.(d)  A corporation may not indemnify a director or officer for a matter in which the director or officer is guilty of negligence or misconduct.  A court may assess indemnity against the corporation only if the court finds that the director or officer was not guilty of negligence or misconduct in the matter for which indemnity is sought.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.067 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.067. Insurance and Benefits

Sec. 501.067.  INSURANCE AND BENEFITS.  (a)  Notwithstanding any law to the contrary and with the consent of the corporation's authorizing unit, a corporation may obtain:(1)  health benefits coverage, liability coverage, workers' compensation coverage, and property coverage under the authorizing unit's insurance policies, through self-funded coverage, or under coverage provided under an interlocal agreement with a political subdivision; or(2)  retirement benefits under a retirement program the authorizing unit participates in or operates.(b)  Health benefits coverage may be extended to the corporation's directors and employees, and to the dependents of the directors and employees.(c)  Workers' compensation benefits may be extended to the corporation's directors, employees, and volunteers.(d)  Liability coverage may be extended to protect the corporation and the corporation's directors and employees.(e)  Retirement benefits may be extended to the corporation's employees.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.068 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.068. Board Meetings; Notice of Meeting

Sec. 501.068.  BOARD MEETINGS; NOTICE OF MEETING.  (a)  A board of directors may hold a regular meeting in this state with or without notice as prescribed by the corporation's bylaws.(b)  A board of directors may hold a special meeting with notice as prescribed by the corporation's bylaws.(c)  A director's attendance at a board meeting constitutes a waiver of notice of the meeting, unless the director attends the meeting for the express purpose of objecting to the transaction of any business at the meeting because the meeting has not been lawfully called or convened.(d)  Unless required by the corporation's bylaws, notice or waiver of notice of a board meeting is not required to specify the business to be transacted at the meeting or the purpose of the meeting.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.069 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.069. Waiver of Notice

Sec. 501.069.  WAIVER OF NOTICE.  If a notice is required to be given to a director of a corporation under this subtitle or the corporation's certificate of formation or bylaws, a written waiver of the notice signed by the person entitled to the notice is equivalent to giving the required notice.  The waiver may be given before or after the time that would have been stated in the notice.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.070 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.070. Action of Board; Quorum

Sec. 501.070.  ACTION OF BOARD; QUORUM.  (a)  A quorum of a board of directors is the lesser of:(1)  a majority of the number of directors:(A)  established by the corporation's bylaws; or(B)  stated in the corporation's certificate of formation, if the bylaws do not establish the number of directors; or(2)  the number of directors, not less than three, established as a quorum by the certificate of formation or bylaws.(b)  The act of a majority of the directors present at a meeting at which a quorum is present is an act of the board of directors, unless the act of a larger number is required by the certificate of formation or bylaws of the corporation.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.071 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.071. Action Without Meeting

Sec. 501.071.  ACTION WITHOUT MEETING.  (a)  An action that may be taken at a meeting of a board of directors, including an action required by this subtitle to be taken at a meeting, may be taken without a meeting if each director signs a written consent providing the action to be taken.(b)  The consent has the same effect as a unanimous vote and may be stated as such in a document filed with the secretary of state under this subtitle.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.072 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.072. Open Meetings and Public Information

Sec. 501.072.  OPEN MEETINGS AND PUBLIC INFORMATION.  A board of directors is subject to the open meetings law, Chapter 551, Government Code, and the public information law, Chapter 552, Government Code.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.073 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.073. Supervision by Authorizing Unit

Sec. 501.073.  SUPERVISION BY AUTHORIZING UNIT.  (a)  The corporation's authorizing unit will approve all programs and expenditures of a corporation and annually review any financial statements of the corporation.(b)  A corporation's authorizing unit is entitled to access to the corporation's books and records at all times.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.074 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.074. Purchasing

Sec. 501.074.  PURCHASING.  A corporation may use the reverse auction procedure defined by Section 2155.062(d), Government Code, for purchasing.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|
TX Loc Govt Code § 501.075 (2021)
2021 Texas Statutes|Local Government Code|Title 12 - Planning and Development|Subtitle C1 - Additional Planning and Development Provisions Applying to More Than One Type of Local Government|Chapter 501 - Provisions Governing Development Corporations|Subchapter B. Creation and Operation of Corporation|Section 501.075. Exemption From Taxation

Sec. 501.075.  EXEMPTION FROM TAXATION.  (a)  The activities of a corporation affect all the residents of the corporation's authorizing unit by the corporation's assuming to a material extent what otherwise might be an obligation or duty of the authorizing unit, and therefore the corporation is an institution of purely public charity within the tax exemption of Section 2, Article VIII, Texas Constitution.(b)  A corporation is exempt from the tax imposed by Chapter 171, Tax Code, only if the corporation is exempted by that chapter.|Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.|