1. (a) An issuer or registered dealer may file a renewal application with the commissioner if the securities authorized to be sold under a permit qualifying securities for sale that is issued under this subchapter are not sold before the permit expires.

2. (b) The renewal application must:

   1. (1) state:

      1. (A) the total number of shares sold in this state;
      2. (B) the total number of shares sold outside this state; and
      3. (C) the total number of shares outstanding;
   2. (2) contain a detailed balance sheet;
   3. (3) contain an operating statement; and
   4. (4) provide any other information the commissioner may require.
3. (c) The commissioner shall examine a renewal application and issue a renewal permit or deny the application using the standards stated in Section 4003.006 applicable to an original application.

4. (d) If issued, a renewal permit:

   1. (1) is valid for one year; and
   2. (2) must be in the form the commissioner prescribes.

Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.