Section 370.332 - Involuntary Dissolution(a) The commission by order may require an authority to dissolve if the commission determines that the authority has not substantially complied with the requirements of a commission rule or an agreement between the department and the authority.(b) The commission may not require dissolution unless:(1) the conditions described in Sections 370.331(c)(1) and (2) have been met; and(2) the holders of any indebtedness have evidenced their agreement to the dissolution.Tex. Transp. Code § 370.332
Added by Acts 2003, 78th Leg., ch. 1325, Sec. 2.01, eff. June 21, 2003.