Section 171.301 - Grounds for Forfeiture of Charter or Certificate of Authority It is a ground for the forfeiture of a corporation's charter or certificate of authority if:
(1) the corporate privileges of the corporation are forfeited under this chapter and the corporation does not pay, within 120 days after the date the corporate privileges are forfeited, the amount necessary for the corporation to revive under this chapter its corporate privileges; or(2) the corporation does not permit the comptroller to examine the corporation's records under Section 171.211 of this code. Amended by Acts 1989, 71st Leg., ch. 584, Sec. 111, eff. Sept. 1, 1989 Acts 1981, 67th Leg., p. 1705, ch. 389, Sec. 1, eff. Jan. 1, 1982.