INCOME OF LOCAL GOVERNMENT CORPORATION
Known as the Texas Transportation Corporation Act
The act spans §§ 431.001–431.186 (63 sections).
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff
(a) A local government creating a local government corporation is entitled at any time to receive any income earned by the local government corporation that is not needed to pay the corporation's expenses or obligations.
(b) The earnings of a local government corporation may not benefit a private interest.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.