Texas Business Organizations Code - BUS ORG § 22.304. Application and Distribution of Property

(a) After all liabilities and obligations of a corporation in the process of winding up are paid, satisfied, and discharged in accordance with Section 11.053, the property of the corporation shall be applied and distributed as follows:

(b) A district court of the county in which the corporation's principal office is located shall distribute to one or more organizations exempt under Section 501(c)(3), Internal Revenue Code, or described by Section 170(c)(1) or (2), Internal Revenue Code, the property of the corporation remaining after a distribution of property under the plan of distribution.  The court shall make the distribution in the manner the court determines will best accomplish the general purposes for which the corporation was organized.