{"data":{"id":"us-tx/tex.-insurance-code-228.204","jurisdiction":"us-tx","citation":"Tex. Insurance Code § 228.204","heading":"CONTINUATION OF CLASSIFICATION AS QUALIFIED BUSINESS; FOLLOW-ON INVESTMENTS AUTHORIZED.","body":"(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:\n(1) remains classified as a qualified business; and\n(2) may receive follow-on investments from any certified capital company.\n(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.\n(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.\nAdded by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.","path":["INSURANCE CODE","TITLE 3. DEPARTMENT FUNDS, FEES, SURCHARGES, AND TAXES","SUBTITLE B. INSURANCE PREMIUM TAXES","CHAPTER 228. PREMIUM TAX CREDIT FOR CERTAIN INVESTMENTS","SUBCHAPTER E. QUALIFIED BUSINESS"],"source_url":"https://statutes.capitol.texas.gov/Docs/IN/htm/IN.228.htm#228.204","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:21Z","sha256":"cd30f050222eece4cccfc9a50b9cf3aa09e05723f0ffcd98de756667812927ec","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-insurance-code-228.203","next":"us-tx/tex.-insurance-code-228.251"},"notice":"GroundRules: Original legal text. Not legal advice."}