Texas law on any date › Local Government Code
Local Government Code §171.002
In force on Feb 09, 2016 · this text took effect Sep 01, 1997 · same as today's text
SUBSTANTIAL INTEREST IN BUSINESS ENTITY
(a) For purposes of this chapter, a person has a substantial interest in a business entity if:
(1) the person owns 10 percent or more of the voting stock or shares of the business entity or owns either 10 percent or more or $15,000 or more of the fair market value of the business entity; or
(2) funds received by the person from the business entity exceed 10 percent of the person's gross income for the previous year.
(b) A person has a substantial interest in real property if the interest is an equitable or legal ownership with a fair market value of $2,500 or more.
(c) A local public official is considered to have a substantial interest under this section if a person related to the official in the first degree by consanguinity or affinity, as determined under Chapter 573 , Government Code, has a substantial interest under this section.
History: Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987. Amended by Acts 1989, 71st Leg., ch. 1, Sec. 40(a), eff. Aug. 28, 1989; Acts 1991, 72nd Leg., ch. 561, Sec. 37, eff. Aug. 26, 1991; Acts 1995, 74th Leg., ch. 76, Sec. 5.95(27), eff. Sept. 1, 1995; Acts 1997, 75th Leg., ch. 849, Sec. 1, eff. Sept. 1, 1997.
Source: the Legislature's file server, seen Nov 30, 2018 to Nov 08, 2026.
Every version on file
- Effective Sep 01, 1997 · seen Nov 2018–Nov 2026
Attorney General opinions that cite it
- KP-0105 (Feb 09, 2016): Application of the conflict of interest rules in chapter 171 of the Local Government Code to members of a planning and zoning commission or historic landmark commission who reside or own property within the historic district
- GA-1083 (Apr 10, 2014): Whether concurrent service as a juvenile probation officer and a trustee on an independent school district's board of trustees creates a conflict of interest
- GA-0796 (Jan 15, 2010): Whether the conflict of interest provisions of chapter 171, Local Government Code, required two board members of the Uvalde County Underground Water Conservation District to disclose their respective interests and abstain from voting on a District rule
- JM-1006 (Jan 12, 1989): Whether a county judge may simultaneously serve as a member of the board of directors of a corporation which does business with the county, and related questions
- JM-1065: Whether the Lubbock Power Texas State Senate and Light Company may contract P. 0. Box 12068 with the Texas Tech Research Austin, Texas 78711 Foundation if a Lubbock city councilman is chairman of the foundation board of directors
A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.