11.052 – WINDING UP PROCEDURES. (a) Except as provided by
Texas Business Organizations Code § 11.052
Summary
This law outlines the procedures for winding up a domestic entity's business affairs when a specified event occurs. It mandates that owners and officials must act promptly to conclude the entity's operations unless certain revocation or cancellation provisions apply.
Applies to domestic entities requiring winding up.
Owners and officials must act promptly to wind up.
Revocation or cancellation can alter winding up requirements.
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In simple terms: Learn about Texas's WINDING UP PROCEDURES. (a) Except as provided by law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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