Tex. Transportation Code § 431.181
This is the official text of Tex. Transportation Code § 431.181, part of Texas’s Transportation Code — governs vehicles, drivers, and roadways.
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§ 431.181. ALTERATION OR DISSOLUTION BY COMMISSION.
Official statutory text
(a) At any time the commission in its sole discretion may:
(1) alter the structure, organization, programs, or activities of a corporation; or
(2) dissolve a corporation.
(b) The authority of the commission under this section is limited only by:
(1) any law of this state prohibiting the impairment of a contract entered into by a corporation; and
(2) any provision of this subchapter relating to alteration or dissolution.
(c) The commission must make an alteration or dissolution under this section by a written resolution.
(1) alter the structure, organization, programs, or activities of a corporation; or
(2) dissolve a corporation.
(b) The authority of the commission under this section is limited only by:
(1) any law of this state prohibiting the impairment of a contract entered into by a corporation; and
(2) any provision of this subchapter relating to alteration or dissolution.
(c) The commission must make an alteration or dissolution under this section by a written resolution.
Status: in_force · Read it on the official government site
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