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Tex. Utilities Code § 251.054

EXPENSES AND LIABILITIES OF CORPORATION

Texas · Texas Utilities Code · Status: effective

Business & Commerce
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Tex. Utilities Code § 251.054, EXPENSES AND LIABILITIES OF CORPORATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/578262
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(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.