Sec. 12.257. DISMISSAL OF ACTION. (a) A suit authorized by Section 12.253 or 12.258 may not be filed or, if filed, shall be dismissed if the entity, through its owners or members, reduces its indebtedness so that it is not insolvent.
(b) The respondent shall pay the costs of a dismissed suit under this section.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 12 - Administrative Powers
Subchapter D. Enforcement Proceedings
Section 12.253. Action Against Insolvent Entity
Section 12.254. Suits by District or County Attorney
Section 12.255. Permission to Sue
Section 12.256. Examination and Notice
Section 12.257. Dismissal of Action
Section 12.258. Liquidation of Insolvent Entity
Section 12.259. Extraordinary Remedies; Bond