Tex. Educ. Code § 12.124

LOANS FROM MANAGEMENT COMPANY PROHIBITED

Applied in 1 court decision — leading case Academy of Skills & Knowledge, Inc. v. Charter Schools, USA, Inc. (2008)

Most recently applied in Academy of Skills & Knowledge, Inc. v. Charter Schools, USA, Inc. (August 2008)

Added by Acts 2001, 77th Leg., ch. 1504, Sec. 18, eff

(a) The charter holder or the governing body of an open-enrollment charter school may not accept a loan from a management company that has a contract to provide management services to:

(1) that charter school; or

(2) another charter school that operates under a charter granted to the charter holder.

(b) A charter holder or the governing body of an open-enrollment charter school that accepts a loan from a management company may not enter into a contract with that management company to provide management services to the school.

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