| (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).
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