Sec. 171.251. FORFEITURE OF CORPORATE PRIVILEGES. The comptroller shall forfeit the corporate privileges of a corporation on which the franchise tax is imposed if the corporation:
(1) does not file, in accordance with this chapter and within 45 days after the date notice of forfeiture is mailed, a report required by this chapter;
(2) does not pay, within 45 days after the date notice of forfeiture is mailed, a tax imposed by this chapter or does not pay, within those 45 days, a penalty imposed by this chapter relating to that tax; or
(3) does not permit the comptroller to examine under Section 171.211 of this code the corporation's records.
Acts 1981, 67th Leg., p. 1703, ch. 389, Sec. 1, eff. Jan. 1, 1982. Amended by Acts 1984, 68th Leg., 2nd C.S., ch. 10, art. 3, Sec. 5, eff. Sept. 1, 1984; Acts 1989, 71st Leg., ch. 584, Sec. 110, eff. Sept. 1, 1989; Acts 1991, 72nd Leg., 1st C.S., ch. 5, Sec. 8.19, eff. Jan. 1, 1992; Acts 1993, 73rd Leg., ch. 546, Sec. 10, eff. Jan. 1, 1994.
Structure Texas Statutes
Subchapter F. Forfeiture of Corporate and Business Privileges
Section 171.251. Forfeiture of Corporate Privileges
Section 171.2515. Forfeiture of Right of Taxable Entity to Transact Business in This State
Section 171.252. Effects of Forfeiture
Section 171.253. Suit on Cause of Action Arising Before Forfeiture
Section 171.254. Exception to Forfeiture
Section 171.255. Liability of Director and Officers
Section 171.256. Notice of Forfeiture
Section 171.257. Judicial Proceeding Not Required for Forfeiture
Section 171.258. Revival of Corporate Privileges
Section 171.259. Banking Corporations and Savings and Loan Associations