Tex. Bus. Orgs. Code Section 23.109
Authority Regarding Loans

(a)

A grand body incorporated under this subchapter may:

(1)

loan money held and owned by the grand body for charitable purposes, for the endowment of any of the institutions of the grand body, or otherwise; and

(2)

secure loans by taking and receiving liens on real property or by another method elected by the grand body.

(b)

On sale of real property secured by a lien, a grand body may become the purchaser of the real property and hold title to the property.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Section 23.109 — Authority Regarding Loans, https://statutes.­capitol.­texas.­gov/Docs/BO/htm/BO.­23.­htm#23.­109 (accessed Apr. 20, 2024).

Green check means up to date. Up to date

Accessed:
Apr. 20, 2024

§ 23.109’s source at texas​.gov