Tex. Loc. Gov't Code § 501.401 · Subchapter I. ALTERATION OR TERMINATION OF CORPORATION
ALTERATION OR TERMINATION BY AUTHORIZING UNIT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) At any time a corporation's authorizing unit, in its sole discretion, may in accordance with this subtitle:
(1) alter the corporation's structure, organization, programs, or activities; or
(2) terminate the existence of the corporation.
(b) The authority of an authorizing unit under this section is limited only by the law of this state on the impairment of contracts entered into by the corporation.
(c) An authorizing unit may make an alteration or may terminate the corporation's existence only by a written resolution of the authorizing unit's governing body.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/LG/htm/LG.501.htm
- Text hash
- sha256 2a4033f59b89ac7a0bb56ee73861e816954234584af6e7f00685b2d4108f6dc4
- 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.