Texas Administrative Code
Title 1 - ADMINISTRATION
Part 2 - TEXAS ETHICS COMMISSION
Chapter 24 - RESTRICTIONS ON CONTRIBUTIONS AND EXPENDITURES APPLICABLE TO CORPORATIONS AND LABOR ORGANIZATIONS
Section 24.5 - Corporate Loans
Universal Citation: 1 TX Admin Code ยง 24.5
Current through Reg. 49, No. 12; March 22, 2024
(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.
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