Texas § 431.181 ALTERATION OR DISSOLUTION BY COMMISSION.

Texas Statutes

§ 431.181 — ALTERATION OR DISSOLUTION BY COMMISSION.

Texas § 431.181

Code TNTransportation Code

This text of Texas § 431.181 (ALTERATION OR DISSOLUTION BY COMMISSION.) 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. Transportation Code Code Ann. § 431.181 (2026).

Text

Sec. 431.181. ALTERATION OR DISSOLUTION BY COMMISSION.

(a)At any time the commission in its sole discretion may:

(1)alter the structure, organization, programs, or activities of a corporation; or

(2)dissolve a corporation.

(b)The authority of the commission under this section is limited only by:

(1)any law of this state prohibiting the impairment of a contract entered into by a corporation; and

(2)any provision of this subchapter relating to alteration or dissolution.

(c)The commission must make an alteration or dissolution under this section by a written resolution.

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Sec. 431.181. ALTERATION OR DISSOLUTION BY COMMISSION. (a) At any time the commission in its sole discretion may:
(1) alter the structure, organization, programs, or activities of a corporation; or
(2) dissolve a corporation.
(b) The authority of the commission under this section is limited only by:
(1) any law of this state prohibiting the impairment of a contract entered into by a corporation; and
(2) any provision of this subchapter relating to alteration or dissolution.
(c) The commission must make an alteration or dissolution under this section by a written resolution.