Texas § 23.110 WINDING UP AND TERMINATION OF SUBORDINATE BODY.

Texas Statutes

§ 23.110 — WINDING UP AND TERMINATION OF SUBORDINATE BODY.

Texas § 23.110

Code BOBusiness Organizations Code

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Bluebook

Tex. Business Organizations Code Code Ann. § 23.110 (2026).

Text

Sec. 23.110. WINDING UP AND TERMINATION OF SUBORDINATE BODY.

(a)On the winding up and termination of a subordinate body attached to a grand body, all property and rights existing in the subordinate body pass to and vest in the grand body to which it was attached, subject to the payment of any debt owed by the subordinate body.

(b)Notwithstanding a grand body's liability for the debt of a subordinate body under Subsection (a), the grand body is not liable for an amount greater than the actual cash value of the subordinate body's effects or authority.

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Sec. 23.110. WINDING UP AND TERMINATION OF SUBORDINATE BODY. (a) On the winding up and termination of a subordinate body attached to a grand body, all property and rights existing in the subordinate body pass to and vest in the grand body to which it was attached, subject to the payment of any debt owed by the subordinate body.
(b) Notwithstanding a grand body's liability for the debt of a subordinate body under Subsection (a), the grand body is not liable for an amount greater than the actual cash value of the subordinate body's effects or authority.