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Texas Business Organizations Code

§ 153.307 — EFFECT OF FAILURE TO FILE REPORT

BO § 153.307Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. G. REPORTS

Statute text

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(a)A domestic or foreign limited partnership that fails to file a report under Section 153.301 when the report is due forfeits the limited partnership's right to transact business in this state. A forfeiture under this section takes effect without judicial ascertainment.
(b)When the right to transact business has been forfeited under this section, the secretary of state shall note that the right to transact business has been forfeited and the date of forfeiture on the record kept in the secretary's office relating to the limited partnership.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 153.307 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.