Texas Statutes (Last Updated: January 4, 2014) |
TAX CODE |
Title 2. STATE TAXATION |
Subtitle F. FRANCHISE TAX |
Chapter 171. FRANCHISE TAX |
Subchapter F. FORFEITURE OF CORPORATE AND BUSINESS PRIVILEGES |
Sec. 171.252. EFFECTS OF FORFEITURE
Latest version.
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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.
Acts 1981, 67th Leg., p. 1704, ch. 389, Sec. 1, eff. Jan. 1, 1982.