Sec. 9.151.  REVOCATION OF REGISTRATION BY COURT ACTION.  (a)  A court may revoke the registration of a foreign filing entity if, as a result of an action brought under Section 9.153, the court finds that one or more of the following problems exist:
(1)  the entity did not comply with a condition precedent to the issuance of the entity's registration or an amendment to the registration;
(2)  the entity's registration or any amendment to the entity's registration was fraudulently filed;
(3)  a misrepresentation of a material matter was made in an application, report, affidavit, or other document the entity submitted under this code;
(4)  the entity has continued to transact business beyond the scope of the purpose or purposes expressed in the entity's registration;  or
(5)  public interest requires revocation because:
(A)  the entity has been convicted of a felony or a high managerial agent of the entity has been convicted of a felony committed in the conduct of the entity's affairs;
(B)  the entity or the high managerial agent has engaged in a persistent course of felonious conduct;  and
(C)  revocation is necessary to prevent future felonious conduct of the same character.
(b)  Sections 9.152-9.157 do not apply to Subsection (a)(5).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.