Tex. Gov't Code § 2306.558 · Subchapter Y. TEXAS STATE AFFORDABLE HOUSING CORPORATION
ALTERATION AND TERMINATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Subject to this subchapter and the prohibition on the impairment of contracts in the law of this state, the corporation's board of directors by written resolution may alter the structure, organization, programs, or activities of the corporation or terminate and dissolve the corporation.
(b) The corporation's board of directors shall dissolve the corporation if the board by resolution determines that:
(1) the purposes for which the corporation was formed have been substantially fulfilled; and
(2) all bonds and other obligations issued by the corporation and all guaranties and insurance and other contractual obligations have been fully paid or provision for that payment has been made.
(c) On dissolution, the title to funds and properties previously owned by the corporation shall be transferred to the department.
Notes and commentary — not statutory text
History
Added by Acts 1995, 74th Leg., ch. 76, Sec. 5.66(d), eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 47, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2306.htm
- Text hash
- sha256 3b29b52153717dbb2f91bfb1dc517f46bb1c8da81d73f34a2d23c87aebd6c6a1
- 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
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.