DISSOLUTION BY BOARD ON COMPLETION OF PURPOSE
Known as the Texas Transportation Corporation Act
The act spans §§ 431.001–431.186 (63 sections).
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff
The board, with the approval by written resolution of the commission, shall dissolve the corporation as provided by this subchapter if the board by resolution determines that:
(1) the purposes for which the corporation was formed have been substantially fulfilled; and
(2) all obligations of the corporation have been fully paid.
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.