Texas Transportation Code
§ 431.181 — ALTERATION OR DISSOLUTION BY COMMISSION
TN § 431.181Title 6. ROADWAYS · Part I. TRANSPORTATION CORPORATIONS · Ch. 431. TEXAS TRANSPORTATION CORPORATION ACT · Art. F. ALTERATION OR DISSOLUTION OF CORPORATION
Statute text
View on source(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.
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Legislative history
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.