(a) A nonprofit association in its name may acquire, hold, encumber, or transfer an estate or interest in real or personal property.
(b) A nonprofit association may be a beneficiary of a trust, contract, or will.
Tex. Bus. Orgs. Code § 252.004
REAL AND PERSONAL PROPERTY; NONPROFIT ASSOCIATION AS BENEFICIARY
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.