Texas § 1088.305 TRANSFER, SALE, OR ADMINISTRATION OF ASSETS.

Texas Statutes

§ 1088.305 — TRANSFER, SALE, OR ADMINISTRATION OF ASSETS.

Texas § 1088.305

Code SDSpecial District Local Laws Code

This text of Texas § 1088.305 (TRANSFER, SALE, OR ADMINISTRATION OF ASSETS.) 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. Special District Local Laws Code Code Ann. § 1088.305 (2026).

Text

Sec. 1088.305. TRANSFER, SALE, OR ADMINISTRATION OF ASSETS.

(a)If a majority of the votes in an election held under this subchapter favor dissolution, the board shall:

(1)transfer the land, buildings, improvements, equipment, and other assets that belong to the district to Reagan County or to another governmental entity in Reagan County;

(2)sell the assets and liabilities to another person; or

(3)administer the property, assets, and debts until all money has been disposed of and all district debts have been paid or settled.

(b)If the board makes the transfer under Subsection (a)(1), the county or entity assumes all debts and obligations of the district at the time of the transfer, and the district is dissolved.

(c)If the board does not make the transfer under Subsection (a)(1), the b

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 1088.305. TRANSFER, SALE, OR ADMINISTRATION OF ASSETS. (a) If a majority of the votes in an election held under this subchapter favor dissolution, the board shall:
(1) transfer the land, buildings, improvements, equipment, and other assets that belong to the district to Reagan County or to another governmental entity in Reagan County;
(2) sell the assets and liabilities to another person; or
(3) administer the property, assets, and debts until all money has been disposed of and all district debts have been paid or settled.
(b) If the board makes the transfer under Subsection (a)(1), the county or entity assumes all debts and obligations of the district at the time of the transfer, and the district is dissolved.
(c) If the board does not make the transfer under Subsection (a)(1), the board shall sell the assets and liabilities to another person under Subsection (a)(2) or administer the property, assets, and debts of the district under Subsection (a)(3), and the district is dissolved when all money has been disposed of and all district debts have been paid or settled.