| (a) The application must be submitted to the commission
in care of the Texas Department of Banking, 2601 North Lamar Boulevard,
Austin, Texas 78705. No filing fee is required.
(b) On or before the 15th day after initial submission
of an application, the department shall issue a written notice informing
the applicant either that the application is complete and accepted
for filing, or that the application is deficient and specific additional
information is required. The applicant must supply any additional
information requested by the department on or before the 61st day
after the date of initial submission of the filing. Upon a finding
of good and sufficient cause, the department shall grant an applicant
additional time to complete the application. Extensions will be communicated
to the applicant before the expiration of the filing period.
(c) After the issuance of written notice informing
the applicant that the application is complete and accepted for filing,
the department shall evaluate the application to the extent necessary
to make a written recommendation to the commission under the criteria
set forth in §6.5 of this title. The department shall submit
the completed application and the department's recommendation to the
commission for decision at the next regularly scheduled meeting of
the commission, which must be on or before the 120th day after the
date the completed application is accepted for filing.
(d) If the finance commission approves the application,
the department shall notify the interested parties as required by
Finance Code, §279.055(b).
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