Texas Tax Code

§ 171.252 — EFFECTS OF FORFEITURE

TX § 171.252Title 2. STATE TAXATION · Part F. FRANCHISE TAX; CREDITS · Ch. 171. FRANCHISE TAX · Art. F. FORFEITURE OF CORPORATE AND BUSINESS PRIVILEGES

Statute text

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If the corporate privileges of a corporation are forfeited under this subchapter:

(1)the corporation shall be denied the right to sue or defend in a court of this state; and

(2)each director or officer of the corporation is liable for a debt of the corporation as provided by Section 171.255 of this code.

Legislative history

Acts 1981, 67th Leg., p. 1704, ch. 389, Sec. 1, eff. Jan. 1, 1982.