Sec. 228.108. OFFERING MATERIAL USED BY CERTIFIED CAPITAL COMPANY. Any offering material involving the sale of securities of the certified capital company must include the following statement:
By authorizing the formation of a certified capital company, the State of Texas does not endorse the quality of management or the potential for earnings of the company and is not liable for damages or losses to a certified investor in the company. Use of the word "certified" in an offering does not constitute a recommendation or endorsement of the investment by the comptroller of public accounts. If applicable provisions of law are violated, the State of Texas may require forfeiture of unused premium tax credits and repayments of used premium tax credits.
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
Structure Texas Statutes
Title 3 - Department Funds, Fees, and Taxes
Subtitle B - Insurance Premium Taxes
Chapter 228 - Premium Tax Credit for Certain Investments
Subchapter C. Application for and General Operation of Certified Capital Companies
Section 228.101. Application for Certification
Section 228.102. Qualification
Section 228.103. Management by and Certain Ownership Interests of Insurance Entities Prohibited
Section 228.104. Action on Application
Section 228.105. Continuation of Certification
Section 228.106. Reports to Comptroller; Audited Financial Statement
Section 228.107. Renewal Fee; Late Fee; Exception
Section 228.108. Offering Material Used by Certified Capital Company