{"data":{"id":"us-tx/tex.-local-government-code-501.406","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 501.406","heading":"ASSETS ON TERMINATION.","body":"On termination the title to all funds and property owned by the corporation is transferred to the corporation's authorizing unit.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.","path":["LOCAL GOVERNMENT CODE","TITLE 12. PLANNING AND DEVELOPMENT","SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT","CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS","SUBCHAPTER I. ALTERATION OR TERMINATION OF CORPORATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.501.htm#501.406","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"55dfe098d893154ff0de6c7ccaa201933eb098b2bef7aa3aee156b1b16bd4a0d","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-501.405","next":"us-tx/tex.-local-government-code-501.407"},"notice":"GroundRules: Original legal text. Not legal advice."}