Sec. 402.011. WINDING UP AND TERMINATION

Latest version.

(a) Chapter 11 applies to:
(1) an action for involuntary or judicial winding up and termination commenced after the mandatory application date; or
(2) a voluntary winding up and termination proceeding initiated after the mandatory application date by:
(A) the governing authority;
(B) the terms of the governing documents; or
(C) applicable law.
(b) The prior law governs:
(1) an action described by Subsection (a)(1) that is pending on the mandatory application date; or
(2) a proceeding described by Subsection (a)(2) initiated before the mandatory application date.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

                    
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