Texas Regulations § 24.5 Corporate Loans
Regulation Text
(a)
A corporation may not make a loan to a candidate, officeholder, or political committee for campaign or officeholder purposes unless:
(1)
the corporation has been legally and continuously engaged in the business of lending money for at least one year before the loan is made; and
(2)
the loan is made in the due course of business.
(b)
This section does not apply to a loan to a political committee that supports or opposes measures exclusively.
History
The provisions of this §24.5 adopted to be effective December 31, 1993, 18 TexReg 9745.
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