Texas Insurance Code 228.102 – Qualification
Current as of: 2024 | Check for updates
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Terms Used In Texas Insurance Code 228.102
- Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
- Rule: includes regulation. See Texas Government Code 311.005
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.