Texas Occupations Code 901.504 – License Revocation Based On Violation of Chapter
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Terms Used In Texas Occupations Code 901.504
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Rule: includes regulation. See Texas Government Code 311.005
After notice and hearing as provided by § 901.509, the board:
(1) may revoke a license that was issued or renewed in violation of this chapter or a rule adopted under this chapter; and
(2) shall revoke the firm license of a sole proprietorship, partnership, corporation, limited liability company, or other business entity that does not meet each qualification for a firm license prescribed by this chapter.