Tex. Utilities Code § 251.052
This is the official text of Tex. Utilities Code § 251.052, part of Texas’s Utilities Code — regulates utility companies.
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§ 251.052. NONPROFIT CORPORATION.
Official statutory text
The corporation is a public nonprofit corporation and has all the powers and duties incident to a nonprofit corporation under the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes), except that the corporation:
(1) may not make donations for the public welfare or for charitable, scientific, or educational purposes or in aid of war activities;
(2) may not merge or consolidate with another corporation;
(3) is not subject to voluntary or involuntary dissolution; and
(4) may not be placed in receivership.
(1) may not make donations for the public welfare or for charitable, scientific, or educational purposes or in aid of war activities;
(2) may not merge or consolidate with another corporation;
(3) is not subject to voluntary or involuntary dissolution; and
(4) may not be placed in receivership.
Status: in_force · Read it on the official government site
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