(a) Not later than the 60th day after an event occurs that causes the information in a certificate to become materially misleading, a registrant must file a new certificate complying with this chapter in the office in which the original or renewal certificate was filed.
(b) An event that causes the information in a certificate to become materially misleading includes:
(1) a change in the name, identity, entity, form of business or professional organization, or location of a registrant;
(2) for a proprietorship or sole practitioner, a change in ownership; or
(3) for a partnership:
(A) the admission of a new partner or joint venturer; or
(B) the end of a general partner’s or joint venturer’s association with the partnership.

Terms Used In Texas Business and Commerce Code 71.152

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(c) A new certificate filed under this section is effective for a term not to exceed 10 years from the date the certificate is filed.

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