The comptroller shall forfeit the corporate privileges of a corporation on which the franchise tax is imposed if the corporation:

1. (1) does not file, in accordance with this chapter and within 45 days after the date notice of forfeiture is mailed or provided by electronic means, a report required by this chapter;
2. (2) does not pay, within 45 days after the date notice of forfeiture is mailed or provided by electronic means, a tax imposed by this chapter or does not pay, within those 45 days, a penalty imposed by this chapter relating to that tax; or
3. (3) does not permit the comptroller to examine under Section 171.211 the corporation's records.

Acts 1981, 67th Leg., p. 1703, ch. 389, Sec. 1, eff. Jan. 1, 1982.

Amended by Acts 1984, 68th Leg., 2nd C.S., ch. 10, art. 3, Sec. 5, eff. Sept. 1, 1984;

Acts 1989, 71st Leg., ch. 584, Sec. 110, eff. Sept. 1, 1989;

Acts 1991, 72nd Leg., 1st C.S., ch. 5, Sec. 8.19, eff. Jan. 1, 1992;

Acts 1993, 73rd Leg., ch. 546, Sec. 10, eff. Jan. 1, 1994.

Acts 2023, 88th Leg., R.S., Ch. 1040 (S.B. 61), Sec. 3, eff. September 1, 2023.