1. (a) An issuer may:

   1. (1) refuse to accept a reservation if the amount of state ceiling available is less than the amount for which the issuer applied; or
   2. (2) refuse to accept a reservation for any amount if the reservation is granted after September 23.
2. (b) The amount of available state ceiling is subject to the grant of a reservation to each succeeding issuer eligible to be granted a reservation of that available state ceiling in the order of priority under this subchapter.
3. (c) An issuer's refusal to accept a reservation does not affect the issuer's order of priority for a subsequent grant of a reservation.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.