Texas § IN.822.060 - ACTION ON APPLICATION
Full text of Texas The Texas Constitution § IN.822.060 — ACTION ON APPLICATION, with citation guidance and answers to common questions.
§ IN.822.060. ACTION ON APPLICATION
ACTION ON APPLICATION. (a) In considering the application, the commissioner shall determine if: (1) the proposed capital structure of the company meets the requirements of this code; (2) the proposed officers, directors, attorney in fact, or managing head of the company have sufficient insurance experience, ability, standing, and good record to make success of the proposed company probable; and (3) the applicants are acting in good faith. (b) If the commissioner determines that the applicant has not met the standards set out by Subsection (a), the commissioner shall deny the application in writing, giving the reason for the denial. (c) If the commissioner does not deny the application under Subsection (b), the commissioner shall approve the application. On approval of an application, the articles of incorporation of the company shall be filed with the department. (d) On the applicant's request, the commissioner shall hold a hearing on a denial. Not later than the 30th day after the date of the applicant's request for a hearing, the commissioner shall request a hearing date. Added by Acts 2001, 77th Leg., ch. 1419, Sec. 1, eff. June 1, 2003. Amended by: Acts 2009, 81st Leg., R.S., Ch. 1022 (H.B. 4291 ), Sec. 6, eff. June 19, 2009.
Frequently Asked Questions About Texas § IN.822.060
What does The Texas Constitution § IN.822.060 cover?
Section IN.822.060 ("ACTION ON APPLICATION") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § IN.822.060?
A common citation format is "The Texas Constitution § IN.822.060" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.822.060 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.