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Tex. Transportation Code § 431.186

ASSETS ON DISSOLUTION

Texas · Texas Transportation Code · Status: effective

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Tex. Transportation Code § 431.186, ASSETS ON DISSOLUTION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/570523
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On dissolution or liquidation of a corporation, the title to all assets, including funds and property, shall be transferred to the commission unless the corporation is a local government corporation, in which case the title shall be transferred to the local governments that created the corporation.