Texas Business Organizations Code - Section 153.108. Requirements For Liability Protection Following Expiration Of Statement
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§ 153.108. REQUIREMENTS FOR LIABILITY PROTECTION
FOLLOWING EXPIRATION OF STATEMENT. (a) If a certificate described
by Section 153.106(1) has not been filed before the expiration of
the 180-day period described by Section 153.107(b), the person
filing the statement has no further protection from liability under
Section 153.106(2) unless the person complies with this section.
To be protected under Section 153.106 the person must, not later
than the 10th day after the date of expiration of the 180-day
period:
(1) withdraw under Section 153.106(3); or
(2) bring an action under Section 153.554 to compel
the execution and filing of a certificate of formation or
amendment.
(b) If an action is brought within the applicable period and
is diligently prosecuted to conclusion, the person bringing the
action continues to be protected from liability under Section
153.106(2) until the action is finally decided adversely to that
person.
(c) This section and Sections 153.106, 153.107, and 153.109
do not protect a person from liability that arises under Sections
153.102-153.105.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 153.101 153.102 153.103 153.104 153.105 153.106 153.107 153.108 153.109 153.110 153.111 153.112 153.113 153.151 153.152
Last modified: August 11, 2007
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