Sec. 370.332. INVOLUNTARY DISSOLUTION. (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.
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.
Structure Texas Statutes