Texas Local Government Code 501.403 – Execution of Certificate of Termination
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Terms Used In Texas Local Government Code 501.403
- 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.
A certificate of termination shall be executed:
(1) on behalf of the corporation by the president or a vice president of the corporation and by the secretary or an assistant secretary of the corporation; or
(2) by the presiding officer of the governing body of the corporation’s authorizing unit and the secretary or clerk of the governing body.