Tex. Utilities Code § 181.003

AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY.

Last amended: 1997Year: 2026Length: 40 wordsOfficial source
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.
Tex. Utilities Code § 181.003: AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY. | Justis AI