Tex. Transportation Code § 370.332
This is the official text of Tex. Transportation Code § 370.332, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 370.332. INVOLUNTARY DISSOLUTION.
Official statutory text
(a) The commission by order may require an authority to dissolve if the commission determines that the authority has not substantially complied with the requirements of a commission rule or an agreement between the department and the authority.
(b) The commission may not require dissolution unless:
(1) the conditions described in Sections 370.331(c)(1) and (2) have been met; and
(2) the holders of any indebtedness have evidenced their agreement to the dissolution.
(b) The commission may not require dissolution unless:
(1) the conditions described in Sections 370.331(c)(1) and (2) have been met; and
(2) the holders of any indebtedness have evidenced their agreement to the dissolution.
Status: in_force · Read it on the official government site
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