Supplementary Powers of Real Estate Investment Trust

Sec. 200.005. SUPPLEMENTARY POWERS OF REAL ESTATE INVESTMENT TRUST. (a) Subject to Section 2.113(a) and in addition to the powers specified in Section 2.101, a real estate investment trust may engage in activities mandated or authorized by: (1) provisions of the Internal Revenue Code that are related to or govern real estate investment trusts; and (2) regulations adopted under the Internal Revenue Code. (b) This section does not authorize a real estate investment trust or an officer or trust manager of a real estate investment trust to exercise a power in a manner inconsistent with a limitation on the purposes or powers of the real estate investment trust contained in: (1) the trust's certificate of formation; (2) this code; or (3) another law of this state. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.