A public utility may not loan money, stocks, bonds, notes, or other evidence of indebtedness to a person who directly or indirectly owns or holds any stock of the public utility unless the public utility reports the transaction to the commission within a reasonable time.
Tex. Util. Code § 14.103
REPORT OF LOAN TO STOCKHOLDERS
Known as the Public Utility Regulatory Act
The act spans §§ 11–66 (1,170 sections).
Acts 1997, 75th Leg., ch. 166, 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.