Texas Vernon’s Civil Statutes 1524f – Rate of Return Restricted
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Terms Used In Texas Vernon's Civil Statutes 1524f
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The governing body fixing the rate of return for a corporation organized under the provisions of Section 1 of this Act shall not fix such rates of return to yield a net amount in excess of eight (8%) per cent upon the invested capital of such corporation.