Texas Transportation Code 722.008 – Certificate Revocation or Suspension
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(a) After a public hearing, the secretary of state shall revoke or suspend an automobile club’s certificate of authority if the secretary determines, for good cause shown, that:
(1) the club:
(A) has violated this chapter;
(B) is not acting as an automobile club;
(C) is insolvent or has assets valued at less than its liabilities;
(D) has refused to submit to an examination by the secretary; or
(E) is transacting business in a fraudulent manner; or
(2) an owner, officer, or manager of the club is not of good moral character.
(b) The secretary of state shall give public notice of the suspension or revocation in the manner the secretary considers appropriate.
Terms Used In Texas Transportation Code 722.008
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.