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Texas Special District Local Laws Code

§ 1050.305 — TRANSFER OR ADMINISTRATION OF ASSETS

SD § 1050.305Title 3. HEALTH · Part A. HOSPITAL DISTRICTS · Ch. 1050. KNOX COUNTY HOSPITAL DISTRICT · Art. G. DISSOLUTION

Statute text

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(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 Knox County or another governmental entity in Knox County; or
(2)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 Subsection (a)(1) does not apply and the board administers the property, assets, and debts of the district under Subsection (a)(2), the district is dissolved when all money has been disposed of and all district debts have been paid or settled.

Legislative history

Added by Acts 2013, 83rd Leg., R.S., Ch. 1040 (H.B. 2907), Sec. 12, eff. June 14, 2013.

Source: Texas Special District Local Laws Code § 1050.305 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.