Texas Tax Code 171.312 – Revival of Charter or Certificate of Authority After Forfeiture by Secretary of State
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Terms Used In Texas Tax Code 171.312
- 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.
A corporation whose charter or certificate of authority is forfeited under this chapter by the secretary of state is entitled to have its charter or certificate revived and to have its corporate privileges revived if:
(1) the corporation files each report that is required by this chapter and that is delinquent;
(2) the corporation pays the tax, penalty, and interest that is imposed by this chapter and that is due at the time the request under § 171.313 of this code to set aside forfeiture is made; and
(3) the forfeiture of the corporation’s charter or certificate is set aside in a proceeding under § 171.313 of this code.