Section 1232.206 - Property Conveyance(a) When the principal of and interest on obligations relating to equipment or a building financed under this chapter are fully paid and the equipment or building is free of all liens, the board shall certify to the commission or the appropriate state agency that rentals, payments, or installments are no longer required to pay the principal of and interest on the obligations.(b) When making the certification required by Subsection (a), the board shall, if necessary and for $1, convey the title of the equipment or building, including any real property, to the commission or the appropriate state agency.Tex. Gov't. Code § 1232.206
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. 9/1/1999.