Texas Business Organizations Code 11.305 – Judgment Requiring Winding Up and Termination
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Terms Used In Texas Business Organizations Code 11.305
- Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
- Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
- Filing entity: means a domestic entity that is a corporation, limited partnership, limited liability company, professional association, cooperative, or real estate investment trust. See Texas Business Organizations Code 1.002
If a district court finds in an action brought under this subchapter that proper grounds exist under § 11.301(a) for a winding up of a filing entity‘s business and termination of the filing entity‘s existence, the court shall:
(1) make findings to that effect; and
(2) subject to § 11.306, enter a judgment not earlier than the fifth day after the date the court makes its findings.