(a) Creation. The commission will by order approve the creation of a corporation if it finds that such creation is advisable and will:
(1) serve the public interest;
(2) address a statewide or regional transportation need; and
(3) develop or promote a transportation project that is or will be consistent with the statewide transportation plan and an existing regional transportation plan developed by a metropolitan planning organization, if any.
(b) Approval order.
(1) An order of the commission approving the creation of a corporation shall: (2) The commission will stagger the terms of the directors to the extent practicable.
Source Note: The provisions of this §15.84 adopted to be effective January 1, 1997, 21 TexReg 11828.