Tex. Loc. Gov't Code § 501.402 · Subchapter I. ALTERATION OR TERMINATION OF CORPORATION
TERMINATION OF CORPORATION ON COMPLETION OF PURPOSE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The board of directors of a corporation, with the approval by written resolution of the corporation's authorizing unit, shall terminate the corporation's existence as provided by this subtitle if the board by resolution determines that:
(1) the purposes for which the corporation was formed have been substantially fulfilled; and
(2) all bonds issued by the corporation have been fully paid.
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 a733efe4254b31230f30d6c331b31b8f32f7d2d7521e86f161b0a6df6a0f47c8
- 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
Cited by 1 provision
Provisions in this library whose text cites Tex. Loc. Gov't Code § 501.402. Each shows the citation as that text prints it.
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.