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Texas Natural Resources Code

§ 31.0672 — AUTHORITY TO CONDUCT CERTAIN REAL PROPERTY TRANSACTIONS

NR § 31.0672Title 2. PUBLIC DOMAIN · Part C. ADMINISTRATION · Ch. 31. GENERAL LAND OFFICE · Art. C. POWERS AND DUTIES

Statute text

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(a)The division may directly sell to a political subdivision or a development corporation organized under Subtitle C1, Title 12, Local Government Code, any real property owned by the state that the legislature has authorized or the governor has approved for sale under Subchapter E if the commissioner determines the sale is in the best interest of the state.
(b)The governor must approve any sale of real property under this section. Failure of the governor to approve the sale constitutes a veto of the transaction.
(c)A sale of real property under this chapter must be for market value and under other terms and conditions the commissioner determines to be in the best interest of the state. Added by Acts 2003, 78th Leg., ch. 1091, Sec. 13, eff. June 20, 2003. Amended by:

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 156 (S.B. 1509), Sec. 1, eff. May 21, 2007. Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 16.001, eff. September 1, 2009.

Source: Texas Natural Resources Code § 31.0672 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.