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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Except as provided by Subsection (b), a Type A corporation may spend not more than 10 percent of the corporate revenues for promotional purposes.
(b) A Type A corporation may spend not more than 25 percent of the corporate revenues for promotional purposes if the authorizing municipality:
(1) is located in two counties;
(2) has a population of less than 24,250 according to the 1990 federal census; and
(3) is located wholly or partly within 10 miles of a federal military reservation.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 504.105. Limitation on Use of Revenues for Promotional Purpose - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-504-105/
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 before relying on it for your legal needs.
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