Texas Education Code 12.124 – Loans From Management Company Prohibited
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(a) The charter holder or the governing body of an open-enrollment charter school may not accept a loan from a management company that has a contract to provide management services to:
(1) that charter school; or
(2) another charter school that operates under a charter granted to the charter holder.
(b) A charter holder or the governing body of an open-enrollment charter school that accepts a loan from a management company may not enter into a contract with that management company to provide management services to the school.
Terms Used In Texas Education Code 12.124
- Contract: A legal written agreement that becomes binding when signed.