APPLICATION FOR CERTIFICATE OF AUTHORITY AFTER DENIAL OR REVOCATION

(a) A person, or officer, director, or shareholder of a person, whose application has been denied or whose certificate of authority has been revoked under this subchapter may not apply for a certificate of authority before the fifth anniversary of: (1) the effective date of the denial or revocation; or (2) the date of a final court order affirming the denial or revocation if judicial review was sought. (b) An application filed after the period required by Subsection (a) may be denied by the commissioner if the applicant fails to show good cause why the denial or revocation should not be a bar to the issuance of a new certificate. (c) Subsection (b) does not apply to an applicant whose application was denied for failure by the applicant to submit a properly completed application for a certificate of authority.