Texas Business Organizations Code - Section 11.105. Supplemental Information Required By Certificate Of Termination Of Nonprofit Corporation
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§ 11.105. SUPPLEMENTAL INFORMATION REQUIRED BY
CERTIFICATE OF TERMINATION OF NONPROFIT CORPORATION. (a) In
addition to the information required by Section 11.101, the
certificate of termination filed by a nonprofit corporation that
has completed its winding up process must contain a statement that:
(1) any property of the nonprofit corporation has been
transferred, conveyed, applied, or distributed in accordance with
this chapter and Chapter 22; and
(2) there is no suit pending against the nonprofit
corporation or adequate provision has been made for the
satisfaction of any judgment, order, or decree that may be entered
against the nonprofit corporation in a pending suit.
(b) In addition to the statements required by Subsection
(a), if the nonprofit corporation received and held property
permitted to be used only for charitable, religious, eleemosynary,
benevolent, educational, or similar purposes, but the nonprofit
corporation did not hold the property on a condition requiring
return, transfer, or conveyance because of the winding up and
termination, the certificate of termination must include a
statement that distribution of that property has been effected in
accordance with a plan of distribution adopted in compliance with
this code for the distribution of that property.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 11.057 11.058 11.059 11.101 11.102 11.103 11.104 11.105 11.151 11.152 11.153 11.201 11.202 11.203 11.204
Last modified: August 11, 2007
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