Texas Tax Code - Section 154.047. Stamps Shipped With Draft Attached
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Texas Laws > Tax Code > Texas Tax Code - Section 154.047. Stamps Shipped With Draft Attached
Section: 154.041 154.0415 154.042 154.043 154.044 154.045 154.046 154.047 154.050 154.051 154.052 154.053 154.054 154.058 154.060
§ 154.047. STAMPS SHIPPED WITH DRAFT ATTACHED. (a) A
distributor may order stamps to be shipped to a bank with which the
distributor regularly transacts business if the bank is a
designated state depository under Section 404.022, Government
Code. The comptroller may ship the stamps to the bank with the
invoice required by Section 154.046 and a form draft.
(b) The comptroller shall prescribe the form of the draft.
The draft must show:
(1) the amount of the draft;
(2) the name of the distributor;
(3) the name and address of the bank; and
(4) the date of shipment.
(c) If the draft is not paid within 20 days after the date of
the draft, the bank shall return the draft and stamps to the
comptroller. The comptroller shall notify the distributor to appear
before the comptroller to show cause why the distributor should not
be denied the privilege of ordering stamps shipped with draft
attached. If the distributor fails to show good cause, the
comptroller may stop shipping stamps with draft attached.
Acts 1981, 67th Leg., p. 1642, ch. 389, § 1, eff. Jan. 1, 1982.
Amended by Acts 1985, 69th Leg., ch. 89, § 2, eff. Aug. 26, 1985;
Acts 1991, 72nd Leg., ch. 409, § 8, eff. June 7, 1991; Acts 1997,
75th Leg., ch. 1423, § 19.23, eff. Sept. 1, 1997.
Last modified: August 11, 2007