Section 122.106 - Exemption From Certain Taxes(a) Except as provided by Subsection (b), a credit union is exempt from a franchise or other license tax.(b) A credit union is not exempt from the franchise tax imposed by Chapter 171, Tax Code, unless the credit union is exempted by that chapter.(c) The intangible property of a credit union organized under this chapter is not taxable. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. 9/1/1997.