Texas Business Organizations Code
§ 153.309 — EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS
BO § 153.309Title 4. PARTNERSHIPS · Ch. 153. LIMITED PARTNERSHIPS · Art. G. REPORTS
Statute text
View on source(a)Unless the right of the limited partnership to transact business is revived in accordance with Section 153.310:
(1)the limited partnership may not maintain an action, suit, or proceeding in a court of this state; and
(2)a successor or assignee of the limited partnership may not maintain an action, suit, or proceeding in a court of this state on a right, claim, or demand arising from the transaction of business by the limited partnership in this state.
(b)The forfeiture of the right to transact business in this state does not:
(1)impair the validity of a contract or act of the limited partnership; or
(2)prevent the limited partnership from defending an action, suit, or proceeding in a court of this state.
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Legislative history
Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 54, eff. September 1, 2009.