Sec. 171.259. BANKING CORPORATIONS AND SAVINGS AND LOAN ASSOCIATIONS. (a) Except as provided by Subsection (b), this subchapter does not apply to a banking corporation that is organized under the laws of this state or under federal law and has its main office in this state.
(b) The banking commissioner shall appoint a conservator under Subtitle A, Title 3, Finance Code, to pay the franchise tax of a banking corporation that is organized under the laws of this state and that the commissioner certifies as being delinquent in the payment of the corporation's franchise tax.
Added by Acts 1984, 68th Leg., 2nd C.S., ch. 31, art. 3, part B, Sec. 5, eff. May 1, 1985. Amended by Acts 1991, 72nd Leg., 1st C.S., ch. 5, Sec. 8.20, eff. Jan. 1, 1992; Acts 1999, 76th Leg., ch. 184, Sec. 3, eff. Jan. 1, 2000.
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