Texas Business & Commerce Code - Section 41.252. Involuntary Termination Of Business Opportunity Registration
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§ 41.252. INVOLUNTARY TERMINATION OF BUSINESS OPPORTUNITY
REGISTRATION. (a) The secretary of state may terminate the
registration of a business opportunity registered under Section
41.051 if the seller does not comply with the requirements
governing the updating of filings under Section 41.052.
(b) The secretary of state must give the business
opportunity registrant notice of the delinquency not later than the
31st day before the date of termination of the business opportunity
registration under Subsection (a).
(c) The notice of delinquency must be given by certified
mail addressed to the registered agent or the principal place of
business of the business opportunity registrant noted in the latest
filing made under this chapter.
(d) The secretary of state may adopt rules governing:
(1) the termination of a delinquent registration;
(2) the effective date of the termination; and
(3) the grace period, if any.
Added by Acts 1997, 75th Leg., ch. 1008, § 5, eff. Sept. 1, 1997.
Section: 41.161 41.162 41.163 41.201 41.202 41.203 41.251 41.252 41.301 41.302 41.303 42.001 42.002 42.003 42.004
Last modified: August 10, 2007
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