Sec. 351.157. 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.
Added by Acts 2007, 80th Leg., R.S., Ch. 1220 (H.B. 2138), Sec. 1, eff. September 1, 2007.
Structure Texas Statutes
Title 4 - Regulation of Interest, Loans, and Financed Transactions
Subtitle B - Loans and Financed Transactions
Chapter 351 - Property Tax Lenders
Section 351.151. Name and Place on License
Section 351.152. License Display
Section 351.153. Minimum Assets for License
Section 351.1535. Grounds for Refusal to Renew
Section 351.155. Expiration of License on Failure to Pay Fee
Section 351.156. License Suspension or Revocation
Section 351.157. Corporate Charter Forfeiture
Section 351.158. License Suspension or Revocation Filed With Public Records
Section 351.159. Reinstatement of Suspended License; Issuance of New License After Revocation
Section 351.160. Surrender of License
Section 351.161. Effect of License Suspension, Revocation, or Surrender
Section 351.162. Moving an Office