Texas Health and Safety Code 221.082 – Articles of Dissolution
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(a) Articles of dissolution on behalf of the corporation shall be executed by:
(1) the president or vice-president and the secretary or assistant secretary; or
(2) the presiding officer of the sponsoring entity’s governing body and the secretary or clerk of that body.
(b) An officer signing the articles of dissolution shall verify them.
Terms Used In Texas Health and Safety Code 221.082
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
(c) The articles of dissolution must include:
(1) the name of the development corporation;
(2) the name and address of the sponsoring entity;
(3) a statement that the dissolution was authorized by the governing body of the sponsoring entity;
(4) the date of the meeting at which the dissolution was authorized;
(5) a statement that all of the corporation’s bonds and obligations have been paid and discharged or that adequate provision has been made for their payment and discharge; and
(6) a statement that no suit is pending in a court against the corporation or that adequate provision has been made for the satisfaction of any judgment, order, or decree that may be entered against the corporation in each pending suit.