Sec. 1504.210. TRUSTEE

Latest version.

A contract under which an exposition or convention hall is encumbered may provide for:
(1) the selection of a trustee to sell the hall on a default in the payment of principal or interest or another default under the contract;
(2) the selection of a successor trustee, if the original trustee is disqualified or fails to act; and
(3) the collection by the trustee of a fee of not more than five percent of the principal.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');