GroundRules
Tex. Business Organizations Code § 21.763: TERMINATION OF CUSTODIANSHIP.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 2. CORPORATIONS
- CHAPTER 21. FOR-PROFIT CORPORATIONS
- SUBCHAPTER P. JUDICIAL PROCEEDINGS RELATING TO CLOSE CORPORATION
If the condition requiring the appointment of a custodian is remedied other than by liquidation or winding up and termination, the court shall terminate the custodianship immediately and management of the close corporation shall be restored to the directors or shareholders of the close corporation or to the persons empowered to manage the business and affairs of the close corporation under a shareholders' agreement.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON