07-07-15 Meeting of the La Porte Development Corporation Board of Directors

Browse Search

LOCAL GOVERNMENT CODE CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.258. DELEGATION OF AUTHORITY. The economic development office may delegate to the executive director of the office the authority to approve a lease, sale, or loan agreement made under this subtitle or bonds issued by a corporation or any documents submitted as provided in this subtitle. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. SUBCHAPTER G. AMENDMENT OR RESTATEMENT OF CERTIFICATE OF FORMATION Sec. 501.301. AMENDMENT BY BOARD OF DIRECTORS. (a) The board of directors of a corporation at any time may file with the governing body of the corporation's authorizing unit a written application requesting that the authorizing unit approve an amendment to the certificate of formation. (b) The application must specify the proposed amendment. The board of directors shall amend the certificate of formation in accordance with this subchapter if the governing body of the authorizing unit by resolution: (1) determines that it is advisable to adopt the amendment; (2) authorizes the adoption of the amendment; and (3) approves the form of the amendment. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.302. AMENDMENT BY UNIT. The governing body of the authorizing unit of a corporation, at the unit's sole discretion, may in accordance with this subchapter amend the corporation's certificate of formation at any time by: (1) adopting the amendment by resolution; and (2) delivering the certificate of amendment to the secretary of state. Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009. Sec. 501.303. AMENDMENT TO COUNTY ALLIANCE CORPORATION'S CERTIFICATE OF FORMATION. An amendment to the certificate of formation of a county alliance corporation may not be adopted unless approved by the governing body of each member of the county alliance that authorized the creation of the corporation. http://www.statutes.legis.state.tx.us/Docs/LG/htm/LG.501.htm\[9/22/2014 3:35:01 PM\]