11.105 – SUPPLEMENTAL INFORMATION REQUIRED BY CERTIFICATE
Texas Business Organizations Code § 11.105
Summary
This law mandates that a nonprofit corporation's certificate of termination includes a statement regarding the distribution of its property. It ensures that the winding up process is transparent and compliant with legal requirements. This affects nonprofit corporations in Texas that are dissolving.
Requires a statement on property distribution in termination certificate.
Applies to nonprofit corporations completing winding up.
Ensures compliance with legal distribution of assets.
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In simple terms: Learn about Texas's SUPPLEMENTAL INFORMATION REQUIRED BY CERTIFICATE 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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