Texas Special District Local Laws Code - SDLL § 3503.112. Nonprofit Corporations for Special Projects
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(a) The authority may authorize by resolution the creation of a nonprofit corporation under the Business Organizations Code solely to undertake on behalf of the authority a project described by Section 3503.003(a)(3).
(b) The board shall appoint the board of directors of each nonprofit corporation created under this section. A board member is not required to reside in the authority.
(c) A board member or employee of the authority may simultaneously serve as a member of the board of directors of a nonprofit corporation. A person serving as a board member of the authority and of a nonprofit corporation created under this section may participate in all votes relating to the business of the authority or the corporation.
(d) The nonprofit corporation may not exercise the power of eminent domain.
(e) A nonprofit corporation created under this section is subject to Chapters 551 and 552, Government Code.
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 3503.112. Nonprofit Corporations for Special Projects - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-3503-112.html
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