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Texas Insurance Code - INS § 228.204. Continuation of Classification as Qualified Business;  Follow-On Investments Authorized

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A business that is classified as a qualified business at the time of the first investment in the business by a certified capital company:

(1) remains classified as a qualified business;  and

(2) may receive follow-on investments from any certified capital company.

(b) Except as provided by Subsection (c), a follow-on investment made under Subsection (a) is a qualified investment even though the business may not meet the definition of a qualified business at the time of the follow-on investment.

(c) A follow-on investment does not qualify as a qualified investment if, at the time of the follow-on investment, the qualified business no longer has the business's principal business operations in this state.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 228.204. Continuation of Classification as Qualified Business;  Follow-On Investments Authorized - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-228-204/

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