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Tex. Health & Safety Code § 223.012

TITLE TO PROJECTS

Known as the Hospital Project Financing Act

The act spans §§ 223–223 (27 sections).

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff

(a) An issuer may vest title to a hospital project provided under this chapter in a nonprofit organization.

(b) If the issuer vests the title in a nonprofit organization, it may retain a mortgage interest in the hospital project. The mortgage interest expires when all bonds of the issuer sold to provide the hospital project are paid or provision has been made for their final payment.

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