Texas Tax Code 171.257 – Judicial Proceeding Not Required for Forfeiture
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Terms Used In Texas Tax Code 171.257
- Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04
- 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.
The forfeiture of the corporate privileges of a corporation is effected by the comptroller without a judicial proceeding.