Texas Water Code

§ 13.303 — LOANS TO STOCKHOLDERS: REPORT

WA § 13.303Title 2. WATER ADMINISTRATION · Part B. WATER RIGHTS · Ch. 13. WATER RATES AND SERVICES · Art. H. SALE OF PROPERTY AND MERGERS

Statute text

View on source

A utility may not loan money, stocks, bonds, notes, or other evidences of indebtedness to any corporation or person owning or holding directly or indirectly any stock of the utility unless the utility reports the transaction to the utility commission within 60 days after the date of the transaction. Added by Acts 1985, 69th Leg., ch. 795, Sec. 3.005, eff. Sept. 1, 1985. Amended by Acts 1989, 71st Leg., ch. 567, Sec. 35, eff. Sept. 1, 1989. Amended by:

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 170 (H.B. 1600), Sec. 2.61, eff. September 1, 2013. Acts 2013, 83rd Leg., R.S., Ch. 171 (S.B. 567), Sec. 61, eff. September 1, 2013.