Local Government Code § 501.053
A corporation is nonprofit, and its net earnings generally cannot benefit individuals or firms; after sufficient provision for expenses, bonds, and other obligations, later earnings must be paid to the corporation’s authorizing unit.
- Jurisdiction
- United States — Texas
- Instrument
- Code
- Version
- Undated source snapshot
- Language
- en
- Official source
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net earnings distribution nonprofit corporations
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Local Government Code § 501.053
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