LIQUIDATION; INVOLUNTARY WINDING UP AND TERMINATION; RECEIVERSHIP.

Tex. BUS. ORGS Code § 21.757.
in effect
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Except as provided by Section 21.756 , in a case in which a shareholder is entitled to wind up and terminate a close corporation under a shareholders' agreement, a court may not order liquidation, involuntary termination, or receivership under that section unless the court determines that any other remedy in law or equity, including appointment of a provisional director, custodian, or other type of receiver, is inadequate.
Source: TX Statutes (Official Site)URL: https://statutes.capitol.texas.gov/Fetched: 6/28/2026

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