Sec. 22.364. FAILURE TO REVIVE; TERMINATION OR REVOCATION. (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.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 22 - Nonprofit Corporations
Subchapter H. Records and Reports
Section 22.351. Member's Right to Inspect Books and Records
Section 22.352. Financial Records and Annual Reports
Section 22.353. Availability of Financial Information for Public Inspection
Section 22.354. Failure to Maintain Financial Record or Prepare Annual Report; Offense
Section 22.356. Corporations Assisting State Agencies
Section 22.357. Report of Domestic and Foreign Corporations
Section 22.358. Notice Regarding Report
Section 22.359. Filing of Report
Section 22.360. Failure to File Report
Section 22.361. Notice of Forfeiture
Section 22.362. Effect of Forfeiture
Section 22.363. Revival of Right to Conduct Affairs
Section 22.364. Failure to Revive; Termination or Revocation