Tex. Ins. Code § 228.102 · Subchapter C. APPLICATION FOR AND GENERAL OPERATION OF CERTIFIED CAPITAL COMPANIES
QUALIFICATION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
To qualify as a certified capital company:
(1) the applicant must have, at the time of application for certification, an equity capitalization of at least $500,000 in unencumbered cash or cash equivalents;
(2) at least two principals or persons employed to manage the funds of the applicant must have at least four years of experience in the venture capital industry; and
(3) the applicant must satisfy any additional requirement imposed by the comptroller by rule.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.228.htm
- Text hash
- sha256 2dd7afc63e998f2056caf3cfcc5f765ea964f8634b105b7ff3f67b60363d64d3
- 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
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.