Tex. Bus. Org. Code § 252.009 Disposition of Personal Property of Inactive Nonprofit Association

• Library: Texas Statutes
• Edition: 2023
• Currency: Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
• Year: 2023
• Citation: Tex. Bus. Org. Code § 252.009

(a) If a nonprofit association has been inactive for three years or longer, or a shorter period as specified in a document of the nonprofit association, a person in possession or control of personal property of the nonprofit association may transfer the custody of the property:

(1) if a document of a nonprofit association specifies a person to whom transfer is to be made under these circumstances, to that person; or

(2) if no person is specified, to a nonprofit association or nonprofit corporation pursuing broadly similar purposes, or to a government or governmental subdivision, agency, or instrumentality.