Texas Local Government Code 506.102 – Withdrawal From County Alliance
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(a) A county may withdraw from a county alliance if all of the county’s obligations and entitlements relating to the county alliance corporation have been properly settled.
(b) The county withdrawing from the county alliance may not receive any assets, including money or other property, of the county alliance corporation until the existence of the corporation is terminated as provided by Section 506.202.
Terms Used In Texas Local Government Code 506.102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Property: means real and personal property. See Texas Government Code 311.005