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Texas Statutes (Last Updated: January 4, 2014) |
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BUSINESS ORGANIZATIONS CODE |
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Title 1. GENERAL PROVISIONS |
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Chapter 11. WINDING UP AND TERMINATION OF DOMESTIC ENTITY |
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Subchapter F. INVOLUNTARY TERMINATION OF FILING ENTITY BY SECRETARY OF STATE |
Sec. 11.251. TERMINATION OF FILING ENTITY BY SECRETARY OF STATE
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(a) If it appears to the secretary of state that, with respect to a filing entity, a circumstance described by Subsection (b) exists, the secretary of state may notify the entity of the circumstance by regular or certified mail addressed to the entity at the entity's registered office or principal place of business as shown on the records of the secretary of state.
(b) The secretary of state may terminate a filing entity's existence if the secretary finds that:
(1) the entity has failed to, and, before the 91st day after the date notice was mailed has not corrected the entity's failure to:
(A) file a report within the period required by law or pay a fee or penalty prescribed by law when due and payable; or
(B) maintain a registered agent or registered office in this state as required by law; or
(2) the entity has failed to, and, before the 16th day after the date notice was mailed has not corrected the entity's failure to, pay a fee required in connection with the filing of its certificate of formation, or payment of the fee was dishonored when presented by the state for payment.
(c) This subchapter shall not apply to real estate investment trusts.