Texas Insurance Code

§ 228.104 — ACTION ON APPLICATION

IN § 228.104Title 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES · Part B. INSURANCE PREMIUM TAXES · Ch. 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS · Art. C. APPLICATION FOR AND GENERAL OPERATION OF CERTIFIED CAPITAL COMPANIES

Statute text

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(a)The comptroller shall:

(1)review the application, organizational documents, and business history of each applicant; and

(2)ensure that the applicant satisfies the requirements of this chapter.

(b)Not later than the 30th day after the date an application is filed, the comptroller shall:

(1)issue the certification; or

(2)refuse to issue the certification and communicate in detail to the applicant the grounds for the refusal, including suggestions for the removal of those grounds.

Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.