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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The secretary of state may terminate the certificate of formation of a domestic limited partnership, or revoke the registration of a foreign limited partnership, if the limited partnership:
(1) forfeits its right to transact business in this state under Section 153.307; and
(2) fails to revive that right under Section 153.310.
(b) Termination of the certificate or revocation of registration takes effect without judicial ascertainment.
(c) The secretary of state shall note the termination or revocation and the date on the record kept in the secretary's office relating to the limited partnership.
(d) On termination or revocation, the status of the limited partnership is changed to inactive according to the records of the secretary of state. The change to inactive status does not affect the liability of a limited partner.
Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 153.311. Termination of Certificate or Revocation of Registration After Forfeiture - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-153-311/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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