Texas Local Government Code 373A.101 – Creation
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Terms Used In Texas Local Government Code 373A.101
- 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.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
The governing body of a political subdivision by ordinance or order may create or designate under this subchapter one or more homestead land trusts, including a housing finance corporation established under Chapter 394 or a land trust operated by a community housing development organization certified by the municipality, to operate in an area that includes a district designated under Subchapter B.