Texas Insurance Code - INS § 651.055. Refusal to Issue License

(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.