Texas Finance Code 273.205 – Consideration for Assistance
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Terms Used In Texas Finance Code 273.205
- 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.
In consideration for assistance provided to a member association under this chapter, the corporation shall receive:
(1) an equity interest in the association; or
(2) other compensation acceptable to the board from the association or another corporate entity that is a party to the transaction in which the assistance is rendered.