Texas Business Organizations Code

§ 2.102 — ADDITIONAL POWERS OF NONPROFIT ENTITY OR INSTITUTION

BO § 2.102Title 1. GENERAL PROVISIONS · Ch. 2. PURPOSES AND POWER OF DOMESTIC ENTITY · Art. B. POWERS OF DOMESTIC ENTITY

Statute text

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To effect its purposes, a domestic nonprofit entity or institution formed for a religious, charitable, educational, or eleemosynary purpose may acquire, own, hold, mortgage, and dispose of and invest its funds in property for the use and benefit of, under the discretion of, and in trust for a convention, conference, or association organized under the laws of this state or another state with which it is affiliated or by which it is controlled.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.