Authority Regarding Loans

Sec. 23.109. AUTHORITY REGARDING LOANS. (a) A grand body incorporated under this subchapter may: (1) loan money held and owned by the grand body for charitable purposes, for the endowment of any of the institutions of the grand body, or otherwise; and (2) secure loans by taking and receiving liens on real property or by another method elected by the grand body. (b) On sale of real property secured by a lien, a grand body may become the purchaser of the real property and hold title to the property. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.