Texas Business Organizations Code

§ 2.103 — POWER TO INCUR INDEBTEDNESS

BO § 2.103Title 1. GENERAL PROVISIONS · Ch. 2. PURPOSES AND POWER OF DOMESTIC ENTITY · Art. B. POWERS OF DOMESTIC ENTITY

Statute text

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(a)Unless otherwise provided by its governing documents or this code, a domestic entity may create indebtedness for any consideration the entity considers appropriate, including:

(1)cash;

(2)property;

(3)a contract to receive property;

(4)a debt or other obligation of the entity or of another person;

(5)services performed or a contract for services to be performed; or

…

Legislative history

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