89R13501 SRA-F     By: Blanco S.B. No. 2697       A BILL TO BE ENTITLED   AN ACT   relating to the revival of a filing entity's corporate privileges   and the reinstatement of the entity's certificate of formation   following certain forfeitures under the Tax Code.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  The heading to Section 11.254, Business   Organizations Code, is amended to read as follows:          Sec. 11.254.  EFFECT OF REVIVAL AND REINSTATEMENT [OF   CERTIFICATE OF FORMATION] FOLLOWING [TAX] FORFEITURE OF FILING   ENTITY UNDER TAX CODE.          SECTION 2.  Sections 11.254(a) and (b), Business   Organizations Code, are amended to read as follows:          (a)  A filing entity whose corporate privileges are    [certificate of formation has been] forfeited under the provisions   of the Tax Code for failure 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 filing entity's [its]   certificate of formation.  A filing entity whose privileges are   revived and whose certificate of formation is reinstated under the   provisions of the Tax Code is considered to have continued in   existence without interruption from the date of forfeiture.          (b)  The revival of a filing entity's corporate privileges or   the reinstatement of a filing entity's certificate of formation   after its forfeiture has no effect on any issue of the personal   liability of the governing persons, officers, or agents of the   filing entity during the period between the date the privileges   were forfeited and the date the privileges were reinstated   [forfeiture and reinstatement of the certificate of formation].          SECTION 3.  This Act takes effect September 1, 2025.