Title TN, Transportation Code

Sec. 22.154. INCORPORATION. A nonprofit airport facility financing corporation may be incorporated under this chapter by filing its articles of incorporation with the secretary of state in the manner prescribed for the incorporation of nonprofit corporations under the Texas Non-P…

Sec. 22.155. BYLAWS. The joint board under whose authority the jointly owned airport is operated shall approve or prescribe the bylaws of the corporation. The bylaws may prescribe the procedures to be followed in fulfilling the purposes of the corporation and in exercising its po…

Sec. 22.156. APPLICABLE LAWS. The corporation has the powers granted by this chapter, the Texas Non-Profit Corporation Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes), and all other laws applicable to nonprofit corporations. The internal affairs of the corporation …

Sec. 22.157. BONDS. (a) A nonprofit airport facility financing corporation may provide financing for the purposes described by Section 22.152(a) by issuing bonds, notes, or other forms of obligations on behalf of the constituent agencies on terms the board of directors considers …

Sec. 22.158. EARNINGS. (a) No part of a nonprofit airport facility financing corporation's net earnings remaining after payment of its expenses and other obligations may benefit an individual, private firm, or private corporation. (b) If the board of directors determines that suf…

Sec. 22.159. ALTERATION OR TERMINATION OF CORPORATION. The constituent agencies that authorize the incorporation of a nonprofit airport facility financing corporation may alter the structure, organization, programs, or activities of the corporation or may terminate and dissolve t…

Sec. 22.901. DISPOSAL OF ABANDONED AIRCRAFT. (a) A local government that is unable to determine the ownership of an aircraft that has been located for more than 90 days at an airport owned by the local government may petition a district court for the county in which the aircraft …