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(a) If a domestic corporation that is a common purchaser violates any provision of this subchapter, Subchapter C, F, or G of this chapter, 1 or Sections 111.004, 111.025, 111.131 through 111.133, 111.136, 111.137, or 111.140 of this code or any valid rule promulgated by the commission under those provisions, the attorney general may bring suit in a district court in Travis County against the corporation to forfeit the charter of the corporation and enjoin and forever prohibit the corporation from doing business in this state.
(b) If the corporation is found guilty by the court before whom the action is brought under this section, the charter of the corporation may be forfeited and the injunction may be granted, provided that the forfeiture and injunction are in addition to all other penalties.
Cite this article: FindLaw.com - Texas Natural Resources Code - NAT RES § 111.093. Forfeiture of Charter of Domestic Corporation - last updated April 14, 2021 | https://codes.findlaw.com/tx/natural-resources-code/nat-res-sect-111-093/
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