What are the consequences if a nonprofit corporation or a limited partnership fails to file its periodic report within the time specified by the secretary of state?
A nonprofit corporation or a limited partnership that fails to file the periodic report required under its governing statute within 30 days from the date that the report is sent by the secretary of state will forfeit its right to conduct its affairs or transact business in Texas. While forfeited, the nonprofit corporation or limited partnership may not maintain any action, suit or proceeding in any court of this state, and may not amend its articles of incorporation or certificate of authority, or in the case of a limited partnership, its certificate of limited partnership or certificate of registration, until it has been relieved of its forfeiture by filing the report. However, the forfeiture of the corporation’s right to conduct its affairs or limited partnership’s right to transact business does not prevent the entity from defending any action or suit or impair the validity of any contract. The failure of a nonprofit corporation or limited partnership to relieve itself of the forfei
Related Questions
- What are the consequences if a nonprofit corporation or a limited partnership fails to file its periodic report within the time specified by the secretary of state?
- If a nonprofit corporation has been involuntarily terminated or had its registration revoked for failure to file its periodic report, can it be reinstated?
- If a nonprofit corporation is involuntarily dissolved, terminated, or revoked for failure to file its Periodic Report, can it reinstate?
