Texas § 10.254 DISPOSITION OF PROPERTY NOT A MERGER OR CONVERSION; LIABILITY.

Texas Statutes

§ 10.254 — DISPOSITION OF PROPERTY NOT A MERGER OR CONVERSION; LIABILITY.

Texas § 10.254

Code BOBusiness Organizations Code

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Bluebook

Tex. Business Organizations Code Code Ann. § 10.254 (2026).

Text

Sec. 10.254. DISPOSITION OF PROPERTY NOT A MERGER OR CONVERSION; LIABILITY.

(a)A disposition of all or part of the property of a domestic entity, regardless of whether the disposition requires the approval of the entity's owners or members, is not a merger or conversion for any purpose.

(b)Except as otherwise expressly provided by another statute, a person acquiring property described by this section may not be held responsible or liable for a liability or obligation of the transferring domestic entity that is not expressly assumed by the person. SUBCHAPTER G. BANKRUPTCY REORGANIZATION

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Sec. 10.254. DISPOSITION OF PROPERTY NOT A MERGER OR CONVERSION; LIABILITY. (a) A disposition of all or part of the property of a domestic entity, regardless of whether the disposition requires the approval of the entity's owners or members, is not a merger or conversion for any purpose.
(b) Except as otherwise expressly provided by another statute, a person acquiring property described by this section may not be held responsible or liable for a liability or obligation of the transferring domestic entity that is not expressly assumed by the person.
SUBCHAPTER G. BANKRUPTCY REORGANIZATION

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737 ), Sec. 55, eff. September 1, 2007.