1. (a) A dissolved electric cooperative continues to exist to:

   1. (1) satisfy existing liabilities or obligations;
   2. (2) collect or liquidate its assets; and
   3. (3) take any other action required to adjust and wind up its business and affairs.
2. (b) A dissolved electric cooperative may sue and be sued in its corporate name.

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.