Tex. Local Gov't Code Section 62.162
Settlement by Trustees


(a)

If a municipality’s officers fail or refuse to settle its affairs under Section 62.161 (Settlement by Corporate Officers), on the petition of any resident taxpayer of the municipality or any holder of an evidence of its indebtedness, a court with jurisdiction and located in the county in which the municipality is located shall appoint three trustees to take control of the municipality’s property, dispose of the property, and settle its debts.

(b)

The trustees have the same powers that municipal officers have under this subchapter.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 62.162 — Settlement by Trustees, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­62.­htm#62.­162 (accessed May 25, 2024).

Accessed:
May 25, 2024

§ 62.162’s source at texas​.gov