Texas Health and Safety Code 221.081 – Dissolution Authorized
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Terms Used In Texas Health and Safety Code 221.081
- 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.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
After a development corporation‘s bonds and other obligations are paid and discharged, or adequate provision is made for their payment and discharge, the sponsoring entity’s governing body by written resolution shall authorize and direct the dissolution of the corporation.