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Texas Transportation Code - TRANSP § 370.332. Involuntary Dissolution

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

(a) The commission by order may require an authority to dissolve if the commission determines that the authority has not substantially complied with the requirements of a commission rule or an agreement between the department and the authority.

(b) The commission may not require dissolution unless:

(1) the conditions described in Sections 370.331(c)(1) and (2) have been met;  and

(2) the holders of any indebtedness have evidenced their agreement to the dissolution.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 370.332. Involuntary Dissolution - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-370-332/

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