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Texas Utilities Code - UTIL § 181.003. Authority to Borrow Money, Issue Stock, or Mortgage Property

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

A gas or electric corporation has the right to:

(1) borrow money;

(2) issue stock, including preferred stock; or

(3) mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.

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Cite this article: FindLaw.com - Texas Utilities Code - UTIL § 181.003. Authority to Borrow Money, Issue Stock, or Mortgage Property - last updated January 01, 2024 | https://codes.findlaw.com/tx/utilities-code/util-sect-181-003/

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