Tex. Ins. Code § 228.152 · Subchapter D. INVESTMENT BY CERTIFIED CAPITAL COMPANIES
INVESTMENT IN EARLY STAGE BUSINESS REQUIRED.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "early stage business" means a qualified business that:
(1) is involved, at the time of a certified capital company's first investment, in activities related to the development of initial product or service offerings, such as prototype development or establishment of initial production or service processes;
(2) was initially organized less than two years before the date of the certified capital company's first investment; or
(3) during the fiscal year immediately preceding the year of the certified capital company's first investment had, on a consolidated basis with the business's affiliates, gross revenues of not more than $2 million as determined in accordance with generally accepted accounting principles.
(b) A certified capital company must place at least 50 percent of the amount of qualified investments required by Section 228.151(b) in early stage businesses.
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 6ce433d9d1df336e12a457a1e99d407db557e496ca24131ff3c331e2b0e71335
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Cited by 3 provisions
Provisions in this library whose text cites Tex. Ins. Code § 228.152. Each shows the citation as that text prints it.
Insurance Code
- Tex. Ins. Code § 228.001GENERAL DEFINITIONS.Printed as Section 228.152(a)
- Tex. Ins. Code § 228.151REQUIRED SCHEDULE OF INVESTMENT.Printed as Sections 228.152(b) and 228.153(b)
- Tex. Ins. Code § 228.302DECERTIFICATION OF CERTIFIED CAPITAL COMPANY.Printed as Section 228.105, 228.106, 228.107, 228.151, 228.152, 228.153, 228.154, 228.155, 228.156, 228.202, or 228.204
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.