Texas Education Code

§ 12.124 — LOANS FROM MANAGEMENT COMPANY PROHIBITED

ED § 12.124Title 2. PUBLIC EDUCATION · Part C. LOCAL ORGANIZATION AND GOVERNANCE · Ch. 12. CHARTERS · Art. D. OPEN-ENROLLMENT CHARTER SCHOOL

Statute text

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(a)The charter holder or the governing body of an open-enrollment charter school may not accept a loan from a management company that has a contract to provide management services to:

(1)that charter school; or

(2)another charter school that operates under a charter granted to the charter holder.

(b)A charter holder or the governing body of an open-enrollment charter school that accepts a loan from a management company may not enter into a contract with that management company to provide management services to the school.

Legislative history

Added by Acts 2001, 77th Leg., ch. 1504, Sec. 18, eff. Sept. 1, 2001.