Tex. Agric. Code § 55.010 · Chapter 55. COOPERATIVE CREDIT ASSOCIATIONS
EXEMPTION FROM FRANCHISE TAX.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An association formed under this chapter is exempt from all franchise or other license taxes, except that:
(1) an association is not exempt from the annual license fee under Section 55.009 of this code; and
(2) an association is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if exempted by that chapter.
Notes and commentary — not statutory text
History
Acts 1981, 67th Leg., p. 1123, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1981, 67th Leg., p. 2786, ch. 752, Sec. 15(c), eff. Jan. 1, 1982.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/AG/htm/AG.55.htm
- Text hash
- sha256 d069705fbab2ef3bdbbf4ba76ea160caaea0c623cceb16356e31e5f4c3ea4eec
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.