Tex.
Bus. Orgs. Code Section 11.001
Definitions
(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 (Event Requiring Winding up of Domestic Entity).(3)
“Existing claim” with respect to an entity means:(A)
a claim that existed before the entity’s termination and is not barred by limitations; or(B)
a claim that exists after the entity’s termination and before the third anniversary of the date of the entity’s termination and is not barred by limitations, including a claim under a contractual or other 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 (Supplemental Provisions for Domestic General Partnership)(a) or (b) or 11.058 (Supplemental Provision for Limited Partnership)(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.
Source:
Section 11.001 — Definitions, https://statutes.capitol.texas.gov/Docs/BO/htm/BO.11.htm#11.001 (accessed Jun. 5, 2024).
