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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) In the event of the foundation's dissolution, the commission is the sole beneficiary of all items held in the foundation's name that relate to the revolutionary history of a site described by Section 442.152(a) and to early Texas settlement and culture, except as otherwise provided by the foundation's articles of incorporation or the terms of the gift or other transfer of the items to the foundation.
(b) An item for which the commission is not the sole beneficiary must be clearly identified and described on an agreed list prepared jointly by the commission and the foundation.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 442.159. Disposition of Foundation Assets on Dissolution - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-442-159/
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