Texas § 21.757 LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP.

Texas Statutes

§ 21.757 — LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP.

Texas § 21.757

Code BOBusiness Organizations Code

This text of Texas § 21.757 (LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 21.757 (2026).

Text

Sec. 21.757. LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP. Except as provided by Section 21.756 , in a case in which a shareholder is entitled to wind up and terminate a close corporation under a shareholders' agreement, a court may not order liquidation, involuntary termination, or receivership under that section unless the court determines that any other remedy in law or equity, including appointment of a provisional director, custodian, or other type of receiver, is inadequate.

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Sec. 21.757. LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP. Except as provided by Section 21.756 , in a case in which a shareholder is entitled to wind up and terminate a close corporation under a shareholders' agreement, a court may not order liquidation, involuntary termination, or receivership under that section unless the court determines that any other remedy in law or equity, including appointment of a provisional director, custodian, or other type of receiver, is inadequate.