12.257 – DISMISSAL OF ACTION. (a) A suit authorized by
Texas Business Organizations Code § 12.257
Summary
This law mandates the dismissal of certain lawsuits if the entity involved has reduced its debts to avoid insolvency. It applies to entities seeking relief under specific sections of the Business Organizations Code and holds the respondent responsible for the costs of the dismissal.
Lawsuits may be dismissed if the entity is no longer insolvent.
Applies to suits authorized by specific sections of the code.
Respondent must pay costs associated with the dismissed action.
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In simple terms: Learn about Texas's DISMISSAL OF ACTION. (a) A suit authorized 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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