(a) In this section, 'utility system' has the meaning assigned by Section 1502.001, Government Code.(b) A sponsor may convey a utility system facility or asset or the sponsor's interest in a utility system facility or asset to the authority without holding an election to approve the conveyance.(c) A sponsor is exempt from the provisions of Chapter 1502, Government Code, regarding the conveyance, sale, or acquisition of a utility system, or any related works, improvements, facilities, plants, equipment, or appliances. Added by Acts 2017, 85th Leg., R.S., Ch. 806 (S.B. 1198), Sec. 2, eff. June 15, 2017.
Texas Legal Code