Tex. Ins. Code § 228.203 · Subchapter E. QUALIFIED BUSINESS
EVALUATION OF BUSINESS BY COMPTROLLER.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A certified capital company may, before making an investment in a business, request a written opinion from the comptroller as to whether the business in which the company proposes to invest is a qualified business, an early stage business, or a strategic investment or low-income community business.
(b) Not later than the 15th business day after the date of the receipt of a request under Subsection (a), the comptroller shall:
(1) determine whether the business meets the definition of a qualified business, an early stage business, or a strategic investment or low-income community business, as applicable, and notify the certified capital company of the determination and provide an explanation of the determination; or
(2) notify the company that an additional 15 days will be needed to review the request and make the determination.
(c) If the comptroller fails to notify the certified capital company with respect to the proposed investment within the period specified by Subsection (b), the business in which the company proposes to invest is considered to be a qualified business, an early stage business, or a strategic investment or low-income community business, as appropriate.
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.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 14.003(a), eff. September 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 bd334250b38caa9a2f6d7c823bd5c5bc476eb8677aece5042dacbac5e634f719
- 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.