Section 10.251 - General Power of Domestic Entity to Sell, Lease, or Convey Property(a) Subject to any approval required by this code or the governing documents of the domestic entity, a domestic entity may transfer and convey by sale, lease, assignment, or another method an interest in property of the entity, including real property. The transfer and conveyance may:(1) be made with or without the goodwill of the entity;(2) be made on any terms and conditions and for any consideration, which may consist wholly or partly of money or other property, including an ownership interest in a domestic entity or non-code organization; and(3) be evidenced by a deed, assignment, or other instrument of transfer or conveyance, with or without the seal of the entity.(b) Subject to any approval required by this code or the governing documents of the domestic entity, a domestic entity may grant a pledge, mortgage, deed of trust, or trust indenture with respect to an interest in property of the entity, including real property, with or without the seal of the entity.Tex. Bus. Org. Code § 10.251
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.