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Tex. Bus. Orgs. Code § 11.051

EVENT REQUIRING WINDING UP OF DOMESTIC ENTITY

Applied in 2 court decisions — leading case BASR Partnership Ex Rel. Pettinati v. United States (2017)

Most recently applied in BASR Partnership Ex Rel. Pettinati v. United States (January 2017)

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff

Winding up of a domestic entity is required on:

(1) the expiration of any period of duration specified in the domestic entity's governing documents;

(2) a voluntary decision to wind up the domestic entity;

(3) an event specified in the governing documents of the domestic entity requiring the winding up, dissolution, or termination of the domestic entity, other than an event specified in another subdivision of this section;

(4) an event specified in other sections of this code requiring the winding up or termination of the domestic entity, other than an event specified in another subdivision of this section; or

(5) a decree by a court requiring the winding up, dissolution, or termination of the domestic entity, rendered under this code or other law.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.