Tex. Utilities Code § 251.054

EXPENSES AND LIABILITIES OF CORPORATION.

Last amended: 1999Year: 2026Length: 43 wordsSubsections: 2Official source
(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.
Tex. Utilities Code § 251.054: EXPENSES AND LIABILITIES OF CORPORATION. | Justis AI