Sec. 171.251. FORFEITURE OF CORPORATE PRIVILEGES. The comptroller shall forfeit the corporate privileges of a corporation on which the franchise tax is imposed if the corporation: (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) 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) does not permit the comptroller to examine under Section 171.211 the corporation's records.
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