Tex. Ins. Code § 651.055 · Subchapter B. AUTHORITY TO ENGAGE IN BUSINESS
REFUSAL TO ISSUE LICENSE.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The department may refuse to issue a license to an applicant if the department determines that:
(1) the financial responsibility, experience, character, or general fitness of the applicant or any person associated with the applicant does not command the confidence of the community and does not warrant the belief that the applicant will engage in the business of insurance premium financing honestly, fairly, and efficiently; or
(2) the applicant does not have available for the operation of the business net assets of at least $25,000.
Notes and commentary — not statutory text
History
Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/IN/htm/IN.651.htm
- Text hash
- sha256 39581c6e5732b495f868582400e7f64fd4e00248f784a0cf2efbc074b521d88d
- 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.