Sec. 501.407. TERMINATION WITH TRANSFER OF ASSETS TO TYPE A CORPORATION. On approval of the governing bodies of each unit and corporation involved, a corporation that is not a Type A corporation may transfer all of the corporation's assets to a Type A corporation and terminate its existence as provided by this subtitle.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 501 - Provisions Governing Development Corporations
Subchapter I. Alteration or Termination of Corporation
Section 501.401. Alteration or Termination by Authorizing Unit
Section 501.402. Termination of Corporation on Completion of Purpose
Section 501.403. Execution of Certificate of Termination
Section 501.404. Delivery and Filing of Certificate of Termination
Section 501.405. Effect of Issuance of Certificate Evidencing Filing of Certificate of Termination
Section 501.406. Assets on Termination
Section 501.407. Termination With Transfer of Assets to Type a Corporation