Texas Statutes
Subchapter F. Alteration or Dissolution of Corporation
Section 431.181. Alteration or Dissolution by Commission

Sec. 431.181. ALTERATION OR DISSOLUTION BY COMMISSION. (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.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.

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