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Texas Transportation Code - TRANSP § 431.181. Alteration or Dissolution by Commission

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

(a) At any time the commission in its sole discretion may:

(1) alter the structure, organization, programs, or activities of a corporation;  or

(2) dissolve a corporation.

(b) The authority of the commission under this section is limited only by:

(1) any law of this state prohibiting the impairment of a contract entered into by a corporation;  and

(2) any provision of this subchapter relating to alteration or dissolution.

(c) The commission must make an alteration or dissolution under this section by a written resolution.

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Cite this article: FindLaw.com - Texas Transportation Code - TRANSP § 431.181. Alteration or Dissolution by Commission - last updated January 01, 2024 | https://codes.findlaw.com/tx/transportation-code/transp-sect-431-181/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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