Texas Utilities Code
§ 14.103 — REPORT OF LOAN TO STOCKHOLDERS
UT § 14.103Title 2. PUBLIC UTILITY REGULATORY ACT · Part A. PROVISIONS APPLICABLE TO ALL UTILITIES · Ch. 14. JURISDICTION AND POWERS OF COMMISSION AND OTHER REGULATORY AUTHORITIES · Art. C. RESTRICTIONS ON CERTAIN TRANSACTIONS
Statute text
View on sourceA public utility may not loan money, stocks, bonds, notes, or other evidence of indebtedness to a person who directly or indirectly owns or holds any stock of the public utility unless the public utility reports the transaction to the commission within a reasonable time.
Legislative history
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.