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Tex. Transportation Code § 431.181

ALTERATION OR DISSOLUTION BY COMMISSION

Texas · Texas Transportation Code · Status: effective

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Tex. Transportation Code § 431.181, ALTERATION OR DISSOLUTION BY COMMISSION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/570518
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(a) At any time the commission in its sole discretion may: (1) alter the structure, organization, programs, or activities of a corporation; or (2) dissolve a corporation. (b) The authority of the commission under this section is limited only by: (1) any law of this state prohibiting the impairment of a contract entered into by a corporation; and (2) any provision of this subchapter relating to alteration or dissolution. (c) The commission must make an alteration or dissolution under this section by a written resolution.