(a) The company representative is the individual to whom the department may direct all correspondence and on whom the department may rely to ensure the company's compliance with all requirements of this chapter and the Act. This individual must meet the applicable experience requirements for company licensure provided in the Act and this chapter, and must successfully complete the examination as provided in §1702.117 of the Act and §35.42 of this title (relating to Examination).
(b) An applicant for a company license who is an individual will be the company representative for all purposes relating to the administration of the Act.
(c) An applicant for a company license that is an entity other than an individual must designate an individual to be the company representative. The individual must be an officer who is to oversee the security-related aspects of the business, or a partner or shareholder who owns at least a 25% interest in the applicant. Formal documentation reflecting the individual's status with the applicant must be submitted to the department in conjunction with the company license application. An applicant may appoint multiple company representatives if necessary to satisfy the experience requirements for multiple licenses, so long as each individual meets the requirements of §1702.110(a)(6) of the Act and of this section.

Source Note: The provisions of this §35.41 adopted to be effective December 29, 2019, 44 TexReg 8028