Tex. Bus. Orgs. Code § 22.307 · Subchapter G. WINDING UP AND TERMINATION
RESPONSIBILITY FOR WINDING UP.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If a corporation determines or is required to wind up, the winding up of the corporation's affairs shall be managed by:
(1) the directors, if management of the affairs is not vested in the corporation's members under Section 22.202; or
(2) the members, if management of the affairs is vested in the corporation's members under Section 22.202.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.22.htm
- Text hash
- sha256 6080db93bb01a3413ebe9c221a2957ad32d4d87f1b67468c43e472aa4bb4ecba
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Business Organizations Code
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.