Texas Utilities Code
§ 181.003 — AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY
UT § 181.003Title 4. DELIVERY OF UTILITY SERVICES · Part B. PROVISIONS REGULATING DELIVERY OF SERVICES · Ch. 181. MISCELLANEOUS POWERS AND DUTIES OF UTILITIES · Art. A. POWERS AND DUTIES OF GAS AND ELECTRIC CORPORATIONS
Statute text
View on sourceA gas or electric corporation has the right to:
(1)borrow money;
(2)issue stock, including preferred stock; or
(3)mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
Legislative history
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.