Texas Health and Safety Code 287.103 – Administration of Property, Debts, and Assets After Dissolution
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(a) If the district does not transfer its land, buildings, improvements, equipment, and other assets to a county or hospital district in the district, the board shall continue to control and administer the property, debts, and assets of the district until all funds have been disposed of and all district debts have been paid or settled.
(b) If, after administering the property and assets, the board determines that the district’s property and assets are insufficient to pay the debts of the district, the district shall transfer the remaining debts to the counties and hospital districts that created the district in proportion to the funds contributed to the district by each county or hospital district.
Terms Used In Texas Health and Safety Code 287.103
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: means real and personal property. See Texas Government Code 311.005
(c) If, after administering the property and assets, the board determines that unused funds remain, the board shall transfer the unused funds to the counties and hospital districts that created the district in proportion to the funds contributed to the district by each county or hospital district.