Texas Transportation Code 520.055 – Application Requirements: Corporation
Terms Used In Texas Transportation Code 520.055
- 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.
In addition to the information required in § 520.054, an applicant for a motor vehicle title service license that intends to engage in business as a corporation shall submit the following information:
(1) the state of incorporation;
(2) the name, address, date of birth, and social security number of each of the principal owners and directors of the corporation;
(3) information about each officer and director as required by the county tax assessor-collector to establish the business reputation and character of the applicant; and
(4) a statement indicating whether an employee, officer, or director has been refused a motor vehicle title service license or a title service runner’s license or has been the holder of a license that was revoked or suspended.