Section 22.362 - 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.Tex. Bus. Org. Code § 22.362
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.