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Texas Finance Code - FIN § 183.203. Contracting for Debt or Obligation

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

Except as provided by this section or the certificate of formation of the limited trust association, a debt, liability, or other obligation may be contracted for or incurred on behalf of a limited trust association only by:

(1) a majority of the managers, if management of the limited trust association has been vested in a board of managers;

(2) a majority of the managing participants;  or

(3) an officer or other agent vested with actual or apparent authority to contract for or incur the debt, liability, or other obligation.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 183.203. Contracting for Debt or Obligation - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-183-203/

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