Directors and Officers May Be Liable for Corporate Debts in the Event of Forfeiture of Corporate Privileges for Tax Violations
Parker, Emily A.
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Upon the occurrence of several specified tax violation events, the Texas Comptroller of Public Accounts may forfeit the corporate privileges of a corporation. Directors and officers of the corporation have personal liability for certain debts incurred after the forfeiture of corporate privileges for the corporation, however, there are exceptions to this rule.