Texas § BO.22.362 - EFFECT OF FORFEITURE
Full text of Texas The Texas Constitution § BO.22.362 — EFFECT OF FORFEITURE, with citation guidance and answers to common questions.
§ BO.22.362. EFFECT OF FORFEITURE
EFFECT OF FORFEITURE. (a) Unless the right of the corporation to conduct affairs in this state is revived under Section 22.363 : (1) the corporation may not maintain an action, suit, or proceeding in a court of this state; and (2) a successor or assignee of the corporation may not maintain an action, suit, or proceeding in a court of this state on a right, claim, or demand arising from the conduct of affairs by the corporation in this state. (b) This section does not affect the right of an assignee of the corporation as: (1) the holder in due course of a negotiable promissory note, check, or bill of exchange; or (2) the bona fide purchaser for value of a warehouse receipt, stock certificate, or other instrument negotiable by law. (c) The forfeiture of the right to conduct affairs in this state does not: (1) impair the validity of a contract or act of the corporation; or (2) prevent the corporation from defending an action, suit, or proceeding in a court of this state. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source: official Texas text · Last verified 2026-08-27
Frequently Asked Questions About Texas § BO.22.362
What does The Texas Constitution § BO.22.362 cover?
Section BO.22.362 ("EFFECT OF FORFEITURE") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BO.22.362?
A common citation format is "The Texas Constitution § BO.22.362" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BO.22.362 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.