Current through October 31, 2024
Section 37.1315 - Nonprofit organization(a) Any corporation, trust, association, cooperative or other organization that: (1) Is operated primarily for scientific, educational, service, or similar purposes in the public interest.(2) Is not organized primarily for profit; and(3) Uses its net proceeds to maintain, improve, or expand the operations of the organization.(b) The term includes any nonprofit institution of higher education or nonprofit hospital.