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Texas Business Organizations Code - BUS ORG § 21.763. Termination of Custodianship

Current as of January 01, 2024 | Updated by Findlaw Staff

If the condition requiring the appointment of a custodian is remedied other than by liquidation or winding up and termination, the court shall terminate the custodianship immediately and management of the close corporation shall be restored to the directors or shareholders of the close corporation or to the persons empowered to manage the business and affairs of the close corporation under a shareholders' agreement.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 21.763. Termination of Custodianship - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-21-763/

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