Texas Business Organizations Code 11.307 – Opportunity for Cure After Affirmation of Findings by Appeals Court
(a) An appellate court that affirms a trial court’s findings against a filing entity under this subchapter shall remand the case to the trial court with instructions to grant the filing entity an opportunity to cure the problems for which the entity has been found guilty if:
(1) the filing entity did not make an application to the trial court for stay of the entry of the judgment;
(2) the appellate court is satisfied that the appeal was taken in good faith and not for purpose of delay or with no sufficient cause;
(3) the appellate court finds that the problems for which the filing entity has been found guilty are capable of being cured; and
(4) the filing entity has prayed for the opportunity to cure its problems in the appeal.
(b) The appellate court shall determine the period, which may not be longer than 60 days after the date the case is remanded to the trial court, to be afforded to a filing entity to enable the filing entity to cure its problems under Subsection (a).
Terms Used In Texas Business Organizations Code 11.307
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- 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
- Remand: When an appellate court sends a case back to a lower court for further proceedings.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
(c) The trial court to which an action against a filing entity has been remanded under this section shall dismiss the action if, during the period prescribed by the appellate court for that conduct, the filing entity cures the problems for which winding up and termination is sought and pays all costs accrued in the action.
(d) If a filing entity has not cured the problems for which winding up and termination is sought within the period prescribed by the appellate court under Subsection (b), the judgment requiring winding up and termination shall become final.