Texas Business Organizations Code

§ 252.015 — TRANSITION CONCERNING REAL AND PERSONAL PROPERTY

BO § 252.015Title 6. ASSOCIATIONS · Ch. 252. UNINCORPORATED NONPROFIT ASSOCIATIONS

Statute text

If, before September 1, 1995, an estate or interest in real or personal property was by the terms of the transfer purportedly transferred to a nonprofit association, but under the law the estate or interest was vested in a fiduciary such as officers of the nonprofit association to hold the estate or interest for members of the nonprofit association, on or after September 1, 1995, the fiduciary may transfer the estate or interest to the nonprofit association in its name, or the nonprofit association, by appropriate proceedings, may require that the estate or interest be transferred to it in its name.

Legislative history

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