Sec. 228.102. QUALIFICATION. To qualify as a certified capital company:
(1) the applicant must have, at the time of application for certification, an equity capitalization of at least $500,000 in unencumbered cash or cash equivalents;
(2) at least two principals or persons employed to manage the funds of the applicant must have at least four years of experience in the venture capital industry; and
(3) the applicant must satisfy any additional requirement imposed by the comptroller by rule.
Added by Acts 2007, 80th Leg., R.S., Ch. 730 (H.B. 2636), Sec. 1B.001, eff. April 1, 2009.
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