yourstate.us
Home / Texas / Local Government Code
Tex. Local Government Code § 501.402

TERMINATION OF CORPORATION ON COMPLETION OF PURPOSE

Texas · Texas Local Government Code · Status: effective

Business & Commerce
Get this as JSONEmbed this
Cite this
Citation
Tex. Local Government Code § 501.402, TERMINATION OF CORPORATION ON COMPLETION OF PURPOSE, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/694070
Permanent ID
ys:prov:694070@1
SHA-256
b784fa3888c6b3d38dbfcaa544c5c762bd87d2b662389855f061eb7e08cb950f

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

The board of directors of a corporation, with the approval by written resolution of the corporation's authorizing unit, shall terminate the corporation's existence as provided by this subtitle if the board by resolution determines that: (1) the purposes for which the corporation was formed have been substantially fulfilled; and (2) all bonds issued by the corporation have been fully paid.