Tex. Utilities Code § 181.003
This is the official text of Tex. Utilities Code § 181.003, part of Texas’s Utilities Code — regulates utility companies.
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§ 181.003. AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY.
Official statutory text
A gas or electric corporation has the right to:
(1) borrow money;
(2) issue stock, including preferred stock; or
(3) mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
(1) borrow money;
(2) issue stock, including preferred stock; or
(3) mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
Status: in_force · Read it on the official government site
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