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What happens if I don’t file my Periodic Report within the time specified by the Secretary of State?

April 26, 2017don’t file happens periodic report Secretary State time

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What happens if I don’t file my Periodic Report within the time specified by the Secretary of State?

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A nonprofit corporation that fails to file the Periodic Report within 30 days from the date that the report is sent by the Secretary of State forfeits its right to transact business in Texas. A forfeited corporation cannot maintain any action, suit, or proceeding in any Texas court or amend its Articles of Incorporation or Certificate of Formation. It can, however, defend any action or suit; furthermore, forfeiture does not impair the validity of any contract. The corporation can relieve itself of forfeiture by filing the Periodic Report within 120 days of the date the Secretary of State mailed notice of forfeiture. If the corporation does not file the report within this 120-day period, the Secretary of State will involuntarily dissolve or terminate the corporation, or revoke its Certificate of Authority or registration.