Sec. 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.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.