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Terms Used In Texas Local Government Code 507.101

  • 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.

A spaceport development corporation:
(1) has the powers granted by this chapter and by other chapters of this subtitle; and
(2) is subject to the limitations of a corporation authorized to be created under another provision of this subtitle.