Texas Business Organizations Code
Sec. § 11.001
Definitions


In this chapter:

(1)

"Claim" means a right to payment, damages, or property, whether liquidated or unliquidated, accrued or contingent, matured or unmatured.

(2)

"Event requiring a winding up" or "event requiring winding up" means an event specified by Section 11.051.

(3)

"Existing claim" with respect to an entity means:

(A)

a claim that existed before the entitys termination and is not barred by limitations; or

(B)

a contractual obligation incurred after termination.

(4)

"Terminated entity" means a domestic entity the existence of which has been:

(A)

terminated in a manner authorized or required by this code, unless the entity has been reinstated in the manner provided by this code; or

(B)

forfeited pursuant to the Tax Code, unless the forfeiture has been set aside.

(5)

"Terminated filing entity" means a terminated entity that is a filing entity.

(6)

"Voluntary decision to wind up" means the determination to wind up a domestic entity made by the domestic entity or the owners, members, or governing authority of the domestic entity in the manner specified by:

(A)

the title of this code governing the domestic entity; or

(B)

if applicable to the domestic entity, Section 11.057(a) or (b) or 11.058(a).

(7)

"Voluntary winding up" means winding up as a result of a voluntary decision to wind up.

(8)

"Winding up" means the process of winding up the business and affairs of a domestic entity as a result of the occurrence of an event requiring winding up.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 60, eff. September 1, 2007.
Acts 2015, 84th Leg., R.S., Ch. 32 (S.B. 860), Sec. 18, eff. September 1, 2015.
Source
Last accessed
Dec. 6, 2019