(a) The charter holder or the governing body of an open-enrollment charter school may not accept a loan from a management company that has a contract to provide management services to:
(1) that charter school; or
(2) another charter school that operates under a charter granted to the charter holder.
(b) A charter holder or the governing body of an open-enrollment charter school that accepts a loan from a management company may not enter into a contract with that management company to provide management services to the school.
Official text of the Texas Education Code as published by the Texas Legislative Council.