Tex. Utilities Code § 251.054
This is the official text of Tex. Utilities Code § 251.054, part of Texas’s Utilities Code — regulates utility companies.
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§ 251.054. EXPENSES AND LIABILITIES OF CORPORATION.
Official statutory text
(a) All expenses of the corporation shall be paid from income of the corporation.
(b) A liability created by the corporation is not a debt of this state, and the corporation may not secure a liability with funds or assets of this state.
(b) A liability created by the corporation is not a debt of this state, and the corporation may not secure a liability with funds or assets of this state.
Status: in_force · Read it on the official government site
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