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Texas Business Organizations Code - BUS ORG § 22.364. Failure to Revive;  Termination or Revocation

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The failure of a corporation that has forfeited its right to conduct affairs in this state to revive that right under Section 22.363 is grounds for:

(1) the involuntary termination of the domestic corporation;  or

(2) the revocation of the foreign corporation's registration to transact business in this state.

(b) The termination or revocation takes effect, without judicial action, when the secretary of state enters on the record of the corporation filed in the office of the secretary of state the word “forfeited” and the date of forfeiture and cites this chapter as authority for that forfeiture.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 22.364. Failure to Revive;  Termination or Revocation - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-22-364/

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