Texas Statutes § 253.103 Corporate Loans
Statute 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 covered by Section 253.096.
(c)
A person who violates this section commits an offense. An offense under this section is a felony of the third degree.
History
Amended by Acts 1987 , 70th Leg., ch. 899 , Sec. 1, eff. 9/1/1987 .
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