Texas Local Government Code

§ 212.017 — CONFLICT OF INTEREST; PENALTY

LG § 212.017Title 7. REGULATION OF LAND USE, STRUCTURES, BUSINESSES, AND RELATED ACTIVITIES · Part A. MUNICIPAL REGULATORY AUTHORITY · Ch. 212. MUNICIPAL REGULATION OF SUBDIVISIONS AND PROPERTY DEVELOPMENT · Art. A. REGULATION OF SUBDIVISIONS

Statute text

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(a)In this section, "subdivided tract" means a tract of land, as a whole, that is subdivided. The term does not mean an individual lot in a subdivided tract of land.

(b)A person has a substantial interest in a subdivided tract if the person:

(1)has an equitable or legal ownership interest in the tract with a fair market value of $2,500 or more;

(2)acts as a developer of the tract;

(3)owns 10 percent or more of the voting stock or shares of or owns either 10 percent or more or $5,000 or more of the fair market value of a business entity that:

(A)has an equitable or legal ownership interest in the tract with a fair market value of $2,500 or more; or

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Legislative history

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 624, Sec. 3.01, eff. Sept. 1, 1989; Acts 1991, 72nd Leg., ch. 561, Sec. 38, eff. Aug. 26, 1991; Acts 1995, 74th Leg., ch. 76, Sec. 5.95(27), eff. Sept. 1, 1995.