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SB 855, 64th R.S.
Authorizing the governing boards of health related state-supported institutions, including the Texas A&M University System, The University of Texas System, and Texas Women's University, and certain nonprofit health related institutions located in certain medical centers to form associations to operate certain systems or facilities on a cooperative basis soley for the benefit of such institutions; providing for the establishment and operation of cooperative associations with authority to acquire such property, borrow money, and issue such bonds and other evidences of indebtedness as deemed necessary for the creation, operation, and maintenance of the system; including certain provisions as to obtaining membership or transferring membership in an association, including provisions as to the respective rights and obligations of the association and an expelled member; providing for eligibility of association bonds for investment of certain funds; disclaiming liability of the state or of members of the association for bonds, notes, and other indebtedness of the association; providing that such associations shall be tax-free.
Last action: Referred to Committee on Higher Education
Author: Chet Brooks
Corporations & Associations
House Committee: Higher Education ()
Senate Committee: State Affairs ()
April 21 1975
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