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Terms Used In Texas Health and Safety Code 221.035

  • 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 sponsoring entity, in its sole discretion, may alter the development corporation‘s structure, organization, programs, or activities, subject only to limitations provided by law relating to the impairment of contracts entered into by the corporation.