Texas § 62.161 SETTLEMENT BY CORPORATE OFFICERS.

Texas Statutes

§ 62.161 — SETTLEMENT BY CORPORATE OFFICERS.

Texas § 62.161

Code LGLocal Government Code

This text of Texas § 62.161 (SETTLEMENT BY CORPORATE OFFICERS.) 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. Local Government Code Code Ann. § 62.161 (2026).

Text

Sec. 62.161. SETTLEMENT BY CORPORATE OFFICERS.

(a)If a municipality or de facto municipality that has indebtedness outstanding is abolished, declared void by a court of competent jurisdiction, or ceases to operate and exercise municipal functions, the municipality's officers at the time the municipality is dissolved or ceases to function shall:

(1)take control of the municipality's property;

(2)sell and dispose of the municipality's property; and

(3)settle the debts owed by the municipality.

(b)For the purpose of settling the debts of the municipality, the former municipal officers may levy and collect a tax on the residents of the municipality in the same manner as the municipality could have done.

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Sec. 62.161. SETTLEMENT BY CORPORATE OFFICERS. (a) If a municipality or de facto municipality that has indebtedness outstanding is abolished, declared void by a court of competent jurisdiction, or ceases to operate and exercise municipal functions, the municipality's officers at the time the municipality is dissolved or ceases to function shall:
(1) take control of the municipality's property;
(2) sell and dispose of the municipality's property; and
(3) settle the debts owed by the municipality.
(b) For the purpose of settling the debts of the municipality, the former municipal officers may levy and collect a tax on the residents of the municipality in the same manner as the municipality could have done.