Sec. 181.003. AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY. A gas or electric corporation has the right to:
(1) borrow money;
(2) issue stock, including preferred stock; or
(3) mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
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