Winding Up and Termination

Sec. 402.011. WINDING UP AND TERMINATION. (a) Chapter 11 applies to: (1) an action for involuntary or judicial winding up and termination commenced after the mandatory application date; or (2) a voluntary winding up and termination proceeding initiated after the mandatory application date by: (A) the governing authority; (B) the terms of the governing documents; or (C) applicable law. (b) The prior law governs: (1) an action described by Subsection (a)(1) that is pending on the mandatory application date; or (2) a proceeding described by Subsection (a)(2) initiated before the mandatory application date. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.