Texas Business Organizations Code - Section 11.001. Definitions
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§ 11.001. DEFINITIONS. In this chapter:
(1) "Claim" means a right to payment, damages, or
property, whether liquidated or unliquidated, accrued or
contingent, matured or unmatured.
(2) "Event requiring a winding up" means an event
specified by Section 11.051.
(3) "Existing claim" with respect to an entity means:
(A) a claim against the entity that existed
before the entity's termination and is not barred by limitations;
or
(B) a contractual obligation incurred after
termination.
(4) "Terminated entity" means a domestic entity the
existence of which has been:
(A) terminated in a manner authorized or required
by this code, unless the entity has been reinstated in the manner
provided by this code; or
(B) forfeited pursuant to the Tax Code, unless
the forfeiture has been set aside.
(5) "Terminated filing entity" means a terminated
entity that is a filing entity.
(6) "Voluntary decision to wind up" means the
determination to wind up a domestic entity made by the domestic
entity or the owners, members, or governing authority of the
domestic entity in the manner specified by the title of this code
governing the domestic entity.
(7) "Voluntary winding up" means winding up as a
result of a voluntary decision to wind up.
(8) "Winding up" means the process of winding up the
business and affairs of a domestic entity as a result of the
occurrence of an event requiring winding up.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 10.364 10.365 10.366 10.367 10.368 10.901 10.902 11.001 11.051 11.052 11.053 11.054 11.055 11.056 11.057
Last modified: August 11, 2007
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