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Tex. Bus. Orgs. Code § 101.605

GENERAL POWERS OF PROTECTED SERIES OR REGISTERED SERIES

Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 45, eff

A protected series or registered series established under this subchapter has the power and capacity, in the name of the protected series or registered series, to:

(1) sue and be sued;

(2) contract;

(3) acquire, sell, and hold title to assets of the protected series or registered series, including real property, personal property, and intangible property;

(4) grant liens and security interests in assets of the protected series or registered series;

(5) be a promoter, organizer, partner, owner, member, associate, or manager of an organization; and

(6) exercise any power or privilege as necessary or appropriate to the conduct, promotion, or attainment of the business, purposes, or activities of the protected series or registered series.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.