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petitioner was organized in the State of Texas, we look to the
law of that State to determine whether petitioner possesses the
requisite capacity to invoke this Court's jurisdiction.
Petitioner's capacity to engage in litigation is prescribed
by Tex. Bus. Corp. Act Ann. art. 7.12 (West 1994), which provides
that a dissolved Texas corporation shall continue its corporate
existence for a period of 3 years from the date of the
dissolution, for the purpose of prosecuting or defending in its
corporate name any action or proceeding brought by or against it.
In applying Tex. Bus. Corp. Act Ann. art. 7.12 ( West 1994)
to the facts presented, we agree with respondent that the cause
of action underlying this proceeding was not commenced within 3
years of the date that petitioner was dissolved. The record
shows that petitioner dissolved on February 24, 1994. It is
clear that under Texas law petitioner's existence as extended by
statute terminated on February 24, 1997, i.e., 3 years after its
dissolution. As of that date it ceased to exist and lacked
capacity to institute any legal proceeding. Great Falls Bonding
Agency Inc., v. Commissioner, supra; Comfort Home Builders, Inc.
v. Commissioner, T.C. Memo. 1995-225. Thus, a petition filed
with this Court in petitioner's name on May 27, 1997, more than 3
years after its dissolution, cannot be entertained.
Moreover, we note that petitioner has not articulated a
sound argument in opposition to respondent's motion to dismiss
for lack of jurisdiction. Rather, petitioner maintains that
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