Tex. Insurance Code § 228.204
CONTINUATION OF CLASSIFICATION AS QUALIFIED BUSINESS; FOLLOW-ON INVESTMENTS AUTHORIZED
Texas · Texas Insurance Code · Status: effective
Cite this
- Citation
- Tex. Insurance Code § 228.204, CONTINUATION OF CLASSIFICATION AS QUALIFIED BUSINESS; FOLLOW-ON INVESTMENTS AUTHORIZED, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/677170
- Permanent ID
ys:prov:677170@1- SHA-256
2426209b3af2a0739a0a6d1e5aa3fbed1aa7ce80b3faf1140ddff28991564916
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(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.