Texas Government Code 1372.036 – Reservations From Portion of State Ceiling Subsequently Becoming Available
Current as of: 2024 | Check for updates
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(a) If, before June 1, any portion of the state ceiling in a category described by § 1372.022(a) from which issuers were granted reservations becomes available in that category:
(1) those amounts of the state ceiling shall be aggregated; and
(2) the board shall grant reservations from that category on June 1.
(b) Beginning June 1, partial reservations may be offered once to each applicant in each category described by § 1372.022(a) until an applicant in the category accepts the partial reservation or until additional volume is returned in an amount sufficient to grant a full reservation.
(c) After January 1, the board may grant a reservation to an issuer if the amount of state ceiling available in a category is greater than the amount of state ceiling applied for in that category.
