Court Opinions

State Laws

US Code

US Constitution

Texas Business Organizations Code - Section 10.254. Disposition Of Property Not A Merger Or Conversion; Liability

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 10.254. Disposition Of Property Not A Merger Or Conversion; Liability

§ 10.254. DISPOSITION OF PROPERTY NOT A MERGER OR 
CONVERSION;  LIABILITY.  (a) A disposition of all or part of the 
property of a domestic entity, regardless of whether the 
disposition requires the approval of the entity's owners or 
members, is not a merger or conversion for any purpose.
	(b)  Except as otherwise expressly provided by another law, a 
person acquiring property described by this section may not be held 
responsible or liable for a liability or obligation of the 
transferring domestic entity that is not expressly assumed by the 
person.

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

Last modified: August 11, 2007