11.311 – ACTION ALLOWED AFTER EXPIRATION OF FILING ENTITY'S
Texas Business Organizations Code § 11.311
Summary
This law clarifies that the expiration of a filing entity's duration does not grant owners or creditors the right to block the attorney general from initiating involuntary winding up proceedings. It affects filing entities and their stakeholders by outlining the legal consequences of expiration.
Expiration does not grant rights to owners or creditors.
Attorney general can initiate involuntary winding up.
Clarifies legal status after entity duration ends.
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In simple terms: Learn about Texas's ACTION ALLOWED AFTER EXPIRATION OF FILING ENTITY'S law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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