Texas Government Code - GOV'T § 1508.004. Authority to Grant Franchise
Current as of April 14, 2021 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
As additional security for an obligation described by Section 1508.002, a municipality may, under the terms of the encumbrance, grant to the purchaser under sale or foreclosure a franchise to operate the facility or land for a term not to exceed 20 years from the date of purchase, subject to all laws regulating same then in force.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1508.004. Authority to Grant Franchise - last updated April 14, 2021 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1508-004.html
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?