Texas Business Organizations Code 11.303 – Filing of Action by Attorney General
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Terms Used In Texas Business Organizations Code 11.303
- 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
- Filing entity: means a domestic entity that is a corporation, limited partnership, limited liability company, professional association, cooperative, or real estate investment trust. See Texas Business Organizations Code 1.002
The attorney general shall file an action against a filing entity in the name of the state seeking termination of the entity’s existence if:
(1) the filing entity has not cured the problems for which winding up and termination is sought before the 31st day after the date the notice under § 11.302(b) is mailed; and
(2) the attorney general determines that cause exists for the involuntary winding up of a filing entity’s business and termination of the entity’s existence under § 11.301.