Sec. 431.186. ASSETS ON DISSOLUTION. On dissolution or liquidation of a corporation, the title to all assets, including funds and property, shall be transferred to the commission unless the corporation is a local government corporation, in which case the title shall be transferred to the local governments that created the corporation.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
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