Texas Health and Safety Code 383.011 – Authority to Acquire and Transfer Property
Current as of: 2024 | Check for updates
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(a) An issuer may acquire, construct, and improve a control facility and may acquire real property as the issuer considers appropriate for the control facility.
(b) An issuer may enter into a lease or other contract under which another person uses or acquires the issuer’s control facility. An issuer may sell a control facility, by installment payments or otherwise, to any person on conditions the issuer considers desirable.
Terms Used In Texas Health and Safety Code 383.011
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.