|§ 55.003||Articles of Incorporation|
|§ 55.004||Capital Stock|
|§ 55.006||Ratio of Capital to Loans|
|§ 55.007||Repurchase of Stock|
|§ 55.010||Exemption From Franchise Tax|
Terms Used In Texas Agriculture Code Chapter 55
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Livestock: means cattle, horses, mules, asses, sheep, goats, llamas, alpacas, exotic livestock, including elk and elk hybrids, and hogs, unless otherwise defined. See Texas Agriculture Code 1.003
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.