Texas SB2697 amends the Business Organizations Code to clarify procedures for reviving corporate privileges and reinstating certificates of formation.

Texas SB2697 amends the Business Organizations Code to specify that a filing entity whose corporate privileges are forfeited under the Tax Code for failing to file a report or pay a tax or penalty must follow the procedures in the Tax Code to revive those privileges and, if applicable, reinstate the entity's certificate of formation. The bill also states that a filing entity whose privileges are revived and whose certificate of formation is reinstated under the Tax Code is considered to have continued in existence without interruption from the date of forfeiture.

Texas SB2697 amends the Business Organizations Code to clarify procedures for reviving corporate privileges and reinstating certificates of formation.

Texas SB2697 amends the Business Organizations Code to specify that a filing entity whose corporate privileges are forfeited under the Tax Code for failing to file a report or pay a tax or penalty must follow the procedures in the Tax Code to revive those privileges and, if applicable, reinstate the entity's certificate of formation. The bill also states that a filing entity whose privileges are revived and whose certificate of formation is reinstated under the Tax Code is considered to have continued in existence without interruption from the date of forfeiture.