Art. 1524b. HOUSING CORPORATIONS AUTHORIZED.  Corporations may be formed wholly for the purpose of providing housing for families of low income and/or for reconstruction of slum areas, provided such corporations are regulated by state or municipal law, as hereinafter provided as to rents, charges, capital structure, rate of return and areas and methods of operation.
Acts 1932, 42nd Leg., 3rd C.S., p. 107, ch. 42, Sec. 1.