Tex.
Occ. Code Section 1304.1025
Additional Registration and Renewal Requirements for Providers
(a)
In addition to the requirements of Section 1304.102 (Application for Registration or Renewal; General Requirements), an applicant for issuance or renewal of a provider registration must file with the application:(1)
the reimbursement insurance policy, if the provider is using a reimbursement insurance policy to meet the financial security requirements of Section 1304.151 (Financial Security Requirements; Distribution of Funds Held in Trust);(2)
the financial security deposit and the documentation required by the department demonstrating adequate funding of the reserve account, if the provider is using a funded reserve account and financial security deposit to meet the financial security requirements of Section 1304.151 (Financial Security Requirements; Distribution of Funds Held in Trust);(3)
the proof necessary to demonstrate the applicant or its parent company maintains at least $100 million net worth, if the applicant is using net worth to meet the financial security requirements of Section 1304.151 (Financial Security Requirements; Distribution of Funds Held in Trust); and(4)
information about each controlling person of the applicant in a form prescribed by the executive director.(b)
The executive director may not issue or renew a registration to a provider unless the provider provides evidence to the executive director that:(1)
each controlling person of the provider is trustworthy and can competently manage the affairs of the provider in compliance with this chapter; and(2)
the provider can meet the provider’s obligations under service contracts and this chapter.(c)
Not later than the 30th day after the date of a provider’s initial registration, the provider must provide to the department a list of any Internet website address through which a consumer may purchase the provider’s service contracts and the name, assumed name, street address, and telephone number of:(1)
any administrator appointed by the provider under Section 1304.153 (Appointment and Responsibilities of Administrator); and(2)
any seller of the provider’s service contracts, other than a seller that is:(A)
an employee of the provider; or(B)
a business with a physical location in this state at which a consumer may purchase a service contract.(d)
The provider shall update the list required by Subsection (c) with each renewal.
Source:
Section 1304.1025 — Additional Registration and Renewal Requirements for Providers, https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1304.htm#1304.1025 (accessed Jun. 5, 2024).
