Texas Business Organizations Code
Sec. § 11.359
Extinguishment of Existing Claim


(a)

Except as provided by Subsection (b), an existing claim by or against a terminated filing entity is extinguished unless an action or proceeding is brought on the claim not later than the third anniversary of the date of termination of the entity.

(b)

A persons claim against a terminated filing entity may be extinguished before the period prescribed by Subsection (a) if the person is notified under Section 11.358 (Accelerated Procedure for Existing Claim Resolution)(a) that the claim will be resolved under Section 11.358 (Accelerated Procedure for Existing Claim Resolution) and the person:

(1)

fails to properly present the claim in writing under Sections 11.358 (Accelerated Procedure for Existing Claim Resolution)(c) and (d); or

(2)

fails to bring an action on a claim rejected under Section 11.358 (Accelerated Procedure for Existing Claim Resolution)(e) before:

(A)

the 180th day after the date the notice rejecting the claim was mailed to the person; and

(B)

the third anniversary of the effective date of the entitys termination.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Feb. 21, 2020