Texas § 228.152 INVESTMENT IN EARLY STAGE BUSINESS REQUIRED.

Texas Statutes

§ 228.152 — INVESTMENT IN EARLY STAGE BUSINESS REQUIRED.

Texas § 228.152

Code INInsurance Code

This text of Texas § 228.152 (INVESTMENT IN EARLY STAGE BUSINESS REQUIRED.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 228.152 (2026).

Text

Sec. 228.152. INVESTMENT IN EARLY STAGE BUSINESS REQUIRED.

(a)In this section, "early stage business" means a qualified business that:

(1)is involved, at the time of a certified capital company's first investment, in activities related to the development of initial product or service offerings, such as prototype development or establishment of initial production or service processes;

(2)was initially organized less than two years before the date of the certified capital company's first investment; or

(3)during the fiscal year immediately preceding the year of the certified capital company's first investment had, on a consolidated basis with the business's affiliates, gross revenues of not more than $2 million as determined in accordance with generally accepted accounting principles. (b

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 228.152. INVESTMENT IN EARLY STAGE BUSINESS REQUIRED. (a) In this section, "early stage business" means a qualified business that:
(1) is involved, at the time of a certified capital company's first investment, in activities related to the development of initial product or service offerings, such as prototype development or establishment of initial production or service processes;
(2) was initially organized less than two years before the date of the certified capital company's first investment; or
(3) during the fiscal year immediately preceding the year of the certified capital company's first investment had, on a consolidated basis with the business's affiliates, gross revenues of not more than $2 million as determined in accordance with generally accepted accounting principles.
(b) A certified capital company must place at least 50 percent of the amount of qualified investments required by Section 228.151 (b) in early stage businesses.