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Texas Business Organizations Code

§ 23.108 — AUTHORITY REGARDING PROPERTY

BO § 23.108Title 2. CORPORATIONS · Ch. 23. SPECIAL-PURPOSE CORPORATIONS · Art. C. GRAND LODGES

Statute text

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(a)A grand body or subordinate body may acquire and hold property as necessary or convenient for a site on which to erect a building for the use and occupancy of the body and to erect homes and schools for members' widows or orphans or elderly, disabled, or indigent members and may sell or mortgage the property.
(b)A conveyance must be executed by the presiding officer and attested to by the secretary with the seal.
(c)The authority of a subordinate body to sell or to mortgage property is subject to the conditions periodically prescribed or established by the grand body to which the subordinate is attached.

Legislative history

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

Source: Texas Business Organizations Code § 23.108 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.