Sec. 221.085. VESTING PROPERTY IN SPONSORING ENTITY. The title to all funds and other property owned by a development corporation when it dissolves automatically vests in the sponsoring entity without further conveyance, transfer, or other act. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Vesting Property In Sponsoring Entity
Tex. Health and Safety Code § 221.085, under Chapter 221.
Tex. Health and Safety Code § 221.085