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Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 84(R)

Senate Bill 1233

Senate Author:  Taylor, Larry

Effective:  5-23-15

House Sponsor:  Oliveira

            Senate Bill 1233 amends the Business Organizations Code to authorize a domestic nonprofit corporation to make distributions of its income to the corporation's members who are 501(c)(3) nonprofit corporations, subject to certain conditions.