Texas § 153.309 EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS.

Texas Statutes

§ 153.309 — EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS.

Texas § 153.309

Code BOBusiness Organizations Code

This text of Texas § 153.309 (EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 153.309 (2026).

Text

Sec. 153.309. EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS.

(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.

(c)This s

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Sec. 153.309. EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS. (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.
(c) This section and Sections 153.307 and 153.308 do not affect the liability of a limited partner.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 54, eff. September 1, 2009.