(a) A distributor may order stamps to be shipped to a bank with which the distributor regularly transacts business if the bank is a designated state depository under § 404.022, Government Code. The comptroller may ship the stamps to the bank with the invoice required by § 154.046 and a form draft.
(b) The comptroller shall prescribe the form of the draft. The draft must show:
(1) the amount of the draft;
(2) the name of the distributor;
(3) the name and address of the bank; and
(4) the date of shipment.

Terms Used In Texas Tax Code 154.047

  • Comptroller: means the Comptroller of Public Accounts of the State of Texas. See Texas Tax Code 1.04

(c) If the draft is not paid within 20 days after the date of the draft, the bank shall return the draft and stamps to the comptroller. The comptroller shall notify the distributor to appear before the comptroller to show cause why the distributor should not be denied the privilege of ordering stamps shipped with draft attached. If the distributor fails to show good cause, the comptroller may stop shipping stamps with draft attached.

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