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Texas Business Organizations Code - BUS ORG § 23.109. Authority Regarding Loans

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 23.109. Authority Regarding Loans - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-23-109/

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