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Texas Utilities Code - UTIL § 162.301. Dissolution

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

(a) A telephone cooperative may be dissolved by a two-thirds vote of all the members of the cooperative. The vote must be taken at a regular meeting or at a special meeting of its members called for that purpose. Votes must be cast in person.

(b) A certificate of dissolution must be:

(1) signed by the president or vice president and attested by the secretary, certifying to the dissolution and stating that the officers have been authorized by a vote of the members under Subsection (a) to execute and file the certificate; and

(2) executed, acknowledged, filed, and recorded in the same manner as original articles of incorporation of a telephone cooperative.

(c) The cooperative is dissolved when the secretary of state accepts the certificate of dissolution for filing and recording and issues a certificate of dissolution.

(d) The secretary of state shall charge and collect:

(1) a fee of $5 for filing a certificate of election to dissolve; and

(2) a fee of $5 for filing articles of dissolution.

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Cite this article: FindLaw.com - Texas Utilities Code - UTIL § 162.301. Dissolution - last updated January 01, 2024 | https://codes.findlaw.com/tx/utilities-code/util-sect-162-301/

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