Texas Transportation Code 431.147 – Suits Not Affected
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(a) An amendment to the articles of incorporation does not affect:
(1) any existing cause of action in favor of or against the corporation;
(2) any pending suit to which the corporation is a party; or
(3) the existing rights of any person.
(b) If an amendment to the articles of incorporation changes the name of the corporation, a suit brought by or against the corporation under its former name does not abate for that reason.
Terms Used In Texas Transportation Code 431.147
- 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.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005