Texas Business Organizations Code 9.151 – Revocation of Registration by Court Action
(a) A court may revoke the registration of a foreign filing entity if, as a result of an action brought under § 9.153, the court finds that one or more of the following problems exist:
(1) the entity did not comply with a condition precedent to the issuance of the entity’s registration or an amendment to the registration;
(2) the entity’s registration or any amendment to the entity’s registration was fraudulently filed;
(3) a misrepresentation of a material matter was made in an application, report, affidavit, or other document the entity submitted under this code;
(4) the entity has continued to transact business beyond the scope of the purpose or purposes expressed in the entity’s registration; or
(5) public interest requires revocation because:
(A) the entity has been convicted of a felony or a high managerial agent of the entity has been convicted of a felony committed in the conduct of the entity’s affairs;
(B) the entity or the high managerial agent has engaged in a persistent course of felonious conduct; and
(C) revocation is necessary to prevent future felonious conduct of the same character.
(b) Sections 9.152-9.157 do not apply to Subsection (a)(5).
Terms Used In Texas Business Organizations Code 9.151
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Business: means a trade, occupation, profession, or other commercial activity. See Texas Business Organizations Code 1.002
- Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
- Foreign: means , with respect to an entity, that the entity is formed under, and the entity's internal affairs are governed by, the laws of a jurisdiction other than this state. See Texas Business Organizations Code 1.002
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.