Texas § GV.2306.558 - ALTERATION AND TERMINATION
Full text of Texas The Texas Constitution § GV.2306.558 — ALTERATION AND TERMINATION, with citation guidance and answers to common questions.
§ GV.2306.558. ALTERATION AND TERMINATION
ALTERATION AND TERMINATION. (a) Subject to this subchapter and the prohibition on the impairment of contracts in the law of this state, the corporation's board of directors by written resolution may alter the structure, organization, programs, or activities of the corporation or terminate and dissolve the corporation. (b) The corporation's board of directors shall dissolve the corporation if the board by resolution determines that: (1) the purposes for which the corporation was formed have been substantially fulfilled; and (2) all bonds and other obligations issued by the corporation and all guaranties and insurance and other contractual obligations have been fully paid or provision for that payment has been made. (c) On dissolution, the title to funds and properties previously owned by the corporation shall be transferred to the department. Added by Acts 1995, 74th Leg., ch. 76, Sec. 5.66(d), eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 47, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § GV.2306.558
What does The Texas Constitution § GV.2306.558 cover?
Section GV.2306.558 ("ALTERATION AND TERMINATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § GV.2306.558?
A common citation format is "The Texas Constitution § GV.2306.558" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § GV.2306.558 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.