Texas Statutes (Last Updated: January 4, 2014) |
LOCAL GOVERNMENT CODE |
Title 12. PLANNING AND DEVELOPMENT |
Subtitle C. PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT |
Chapter 394. HOUSING FINANCE CORPORATIONS IN MUNICIPALITIES AND COUNTIES |
Subchapter D. CORPORATE POWERS |
Sec. 394.031. EXERCISE OF POWERS
Latest version.
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(a) A housing finance corporation may exercise any powers incidental to or necessary for the performance of the powers prescribed by this subchapter and may exercise other powers necessary or appropriate to carry out the purposes for which the corporation is organized.
(b) A housing finance corporation may exercise powers under this chapter by resolution of the board of directors. The resolution takes effect immediately on adoption.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.