The title to all funds and other property owned by a development corporation when it dissolves automatically vests in the sponsoring entity without further conveyance, transfer, or other act.
Tex. Health & Safety Code § 221.085
VESTING PROPERTY IN SPONSORING ENTITY
Known as the Health Facilities Development Act
The act spans §§ 221–221 (50 sections).
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.