(a) Following submission of the information and documentation described under §6.202 of this title the Commissioner will review the information for compliance with Insurance Code Chapter 964 and this chapter. If requested, the applicant must provide the Commissioner with updated information during this review.
(b) If the Commissioner determines that the applicant meets the requirements for issuance of a certificate of authority, the Commissioner will issue the certificate as described in Insurance Code §964.059(d). If the department has granted conditional exceptions under §6.202(f) of this title, the certificate of authority will list the exceptions and be issued on a consent basis, requiring the written agreement of the captive insurance company.
(c) If the Commissioner determines that the applicant has not met the requirements for issuance of a certificate of authority under Insurance Code §964.059 and this chapter, the Commissioner will deny the application. Following denial of the application, the applicant may proceed under Insurance Code §964.059(c).

Source Note: The provisions of this §6.203 adopted to be effective April 27, 2014, 39 TexReg 3232; amended to be effective December 30, 2018, 43 TexReg 8432