Texas Business Organizations Code Sec. § 252.004 Real and Personal Property; Nonprofit Association As Beneficiary (a) A nonprofit association in its name may acquire, hold, encumber, or transfer an estate or interest in real or personal property. (b) A nonprofit association may be a beneficiary of a trust, contract, or will. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.