Texas Business Organizations Code 200.453 – Responsibility for Winding Up
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Terms Used In Texas Business Organizations Code 200.453
- Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
- Real estate investment trust: means an entity governed as a real estate investment trust under Title 5. See Texas Business Organizations Code 1.002
If a real estate investment trust determines or is required to wind up, the trust managers shall manage the winding up of the business or affairs of the real estate investment trust.