Texas Transportation Code

§ 370.332 — INVOLUNTARY DISSOLUTION

TN § 370.332Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 370. REGIONAL MOBILITY AUTHORITIES · Art. H. DISSOLUTION OF AUTHORITY

Statute text

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(a)The commission by order may require an authority to dissolve if the commission determines that the authority has not substantially complied with the requirements of a commission rule or an agreement between the department and the authority.

(b)The commission may not require dissolution unless:

(1)the conditions described in Sections 370.331(c)(1) and (2) have been met; and

(2)the holders of any indebtedness have evidenced their agreement to the dissolution.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.