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Tex. Bus. Orgs. Code § 22.307

RESPONSIBILITY FOR WINDING UP

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

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.

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