NONPROFIT CORPORATIONS AND LIMITED LIABILITY COMPANIES.
Tex. SPEC. DIST. LOCAL LAWS Code § 3503.112.
in effect(a) The authority may authorize by resolution the creation of a nonprofit corporation under the Business Organizations Code to undertake on behalf of the authority a project described by Section 3503.003 or carry out any other purpose described by that section on the authority's behalf.
(a-1) After the creation of a nonprofit corporation under Subsection (a), the authority may authorize by resolution:
(1) the creation of a limited liability company under the Business Organizations Code for the purposes described by Subsection (a); and
(2) the designation of the nonprofit corporation described by Subsection (a) to participate as a member of the company.
(b) The board shall appoint the board of directors of each nonprofit corporation or limited liability company created under this section. A board member is not required to reside in the authority.
(c) A board member or employee of the authority may simultaneously serve as a member of the board of directors of a nonprofit corporation or limited liability company created under this section. A person serving as a board member of the authority and of a nonprofit corporation or limited liability company created under this section may participate in all votes relating to the business of the authority, corporation, or company.
(d) A nonprofit corporation or limited liability company created under this section may not exercise the power of eminent domain.
(e) A nonprofit corporation or limited liability company created under this section is subject to Chapters 551 and 552 , Government Code.
Added by Acts 2017, 85th Leg., R.S., Ch. 993 (H.B. 967 ), Sec. 2, eff. September 1, 2017.