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Texas Health and Safety Code

§ 221.085 — VESTING PROPERTY IN SPONSORING ENTITY

HS § 221.085Title 4. HEALTH FACILITIES · Part A. FINANCING, CONSTRUCTING, REGULATING, AND INSPECTING · Ch. 221. HEALTH FACILITIES DEVELOPMENT ACT · Art. D. DISSOLUTION OF CORPORATION

Statute text

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The title to all funds and other property owned by a development corporation when it dissolves automatically vests in the sponsoring entity without further conveyance, transfer, or other act.

Legislative history

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.

Source: Texas Health and Safety Code § 221.085 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.