Texas § NR.62.163 - ADMINISTRATION OF PROPERTY, DEBTS, AND ASSETS AFTER DISSOLUTION

§ NR.62.163. ADMINISTRATION OF PROPERTY, DEBTS, AND ASSETS AFTER DISSOLUTION

ADMINISTRATION OF PROPERTY, DEBTS, AND ASSETS AFTER DISSOLUTION. (a) After a vote to dissolve a board, the board shall continue to control and administer the property, debts, and assets of the board until: (1) the board executes and files a written assignment of all its property, debts, and assets to the commissioners court; and (2) the commissioners court executes and files in its minutes an acceptance and assumption of the property, debts, and assets of the board. (b) The assignment prescribed by Subsection (a) must be filed with the commissioners court not later than the 30th day after the date of the canvass of the election. (c) After the commissioners court determines that the requirements of this section have been fulfilled, the commissioners court shall enter an order dissolving the board. (d) Each trustee is discharged from liability under the trustee's bond on entry of the order prescribed by Subsection (c). (e) An employee or contract of the board becomes an employee or contract of the county, acting by and through its commissioners court, on entry of the order prescribed by Subsection (c). Added by Acts 1997, 75th Leg., ch. 1135, Sec. 1, eff. June 19, 1997.