Sec. 342.157. CORPORATE CHARTER FORFEITURE. (a) A license holder who violates this chapter is subject to revocation of the holder's license and, if the license holder is a corporation, forfeiture of its charter.
(b) When the attorney general is notified of a violation of this chapter and revocation of a license, the attorney general shall file suit in a district court in Travis County, if the license holder is a corporation, for forfeiture of the license holder's charter.
Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.19(a), eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Section 342.151. Name and Place on License
Section 342.152. License Display
Section 342.153. Minimum Assets for License
Section 342.155. Expiration of License on Failure to Pay Fee
Section 342.1555. Grounds for Refusing Renewal
Section 342.156. License Suspension or Revocation
Section 342.157. Corporate Charter Forfeiture
Section 342.158. License Suspension or Revocation Filed With Public Records
Section 342.159. Reinstatement of Suspended License; Issuance of New License After Revocation
Section 342.160. Surrender of License
Section 342.161. Effect of License Suspension, Revocation, or Surrender