|(a) Any individual that desires a public insurance adjuster license must file with the department a fully completed license application, on a form as required by the commissioner, and otherwise meet the licensing qualification requirements of Insurance Code Article 21.07-5 §§5 or 15 and this subchapter. (b) Any corporation or partnership that desires a public insurance adjuster license must file with the department a fully completed license application on a form as required by the commissioner. (c) The department shall issue a license to a resident or nonresident corporation or partnership if the department finds that: (1) the corporation or partnership is: (A) organized under the laws of this state or any other state or territory of the United States; (B) admitted to conduct business in this state by the secretary of state, if required; and (C) authorized by its articles of incorporation or its partnership agreement to act as a public insurance adjuster; (2) the corporation or partnership meets the definition of that entity adopted under Insurance Code Article 21.07 §1A; (3) at least one officer of the corporation or one active partner of the partnership and all other persons performing any acts of a public insurance adjuster on behalf of the corporation or partnership in this state are individually licensed by the department separately from the corporation or partnership; (4) the corporation or partnership intends to be actively engaged in the business of public insurance adjusting; (5) the corporation or partnership has filed a separate registration with the department for each location from which it will conduct business as a public insurance adjuster; (6) the corporation or partnership has submitted the application, appropriate fees, proof of financial responsibility, and any other information required by the department; and (7) no officer, director, member, manager, partner, or any other person who has the right or ability to control the license holder has: (A) had a license suspended or revoked or been the subject of any other disciplinary action by a financial or insurance regulator of this state, another state, or the United States; (B) committed an act for which a license may be denied under Insurance Code Article 21.01-2 or 21.07-5. (d) Nothing contained in this section shall be construed to permit any unlicensed employee or representative of any corporation or partnership to perform any act of a public insurance adjuster without obtaining a public insurance adjuster license. (e) Each corporation or partnership applying for a public insurance adjuster license shall file, under oath, on a form developed by the department, biographical information for each of its executive officers and directors or unlicensed partners who administer the entity's operations in this state, and shareholders who are in control of the corporation, or any other partners who have the right or ability to control the partnership. If any corporation or partnership is owned, in whole or in part, by another entity, a biographical form is required for each individual who is in control of the parent entity. (f) Each corporation or partnership shall notify the department not later than the 30th day after the date of: (1) a felony conviction of a licensed public insurance adjuster of the entity or any individual associated with the corporation or partnership who is required to file biographical information with the department; (2) an event that would require notification under Insurance Code §81.003; and (3) the addition or removal of an officer, director, partner, member, or manager. (g) A person may not acquire in any manner any ownership interest in an entity licensed as a public insurance adjuster under this subchapter if the person is, or after the acquisition would be directly or indirectly in control of the license holder, or otherwise acquire control of or exercise any control over the license holder, unless the person has filed the following information with the department under oath: (1) a biographical form for each person by whom or on whose behalf the acquisition of control is to be effected; (2) a statement certifying that no person who is acquiring an ownership interest in or control of the license holder has been the subject of a disciplinary action taken by a financial or insurance regulator of this state, another state, or the United States; (3) a statement certifying that, immediately on the change of control, the license holder will be able to satisfy the requirements for the issuance of the public insurance adjuster license; and (4) any additional information that the commissioner may prescribe as necessary or appropriate to the protection of the insurance consumers of this state or as in the public interest. (h) If a person required to file a statement under subsection (g) of this section is a partnership, limited partnership, syndicate, or other group, the commissioner may require that the information required by paragraphs (1)-(4) of that subsection for an individual be provided regarding each partner of the partnership or limited partnership, each member of the syndicate or group, and each person who controls the partner or member. If the partner, member, or person is a corporation or the person required to file the statement under subsection (g) of this section is a corporation, the commissioner may require that the information required by paragraphs (1)-(4) of that subsection be provided regarding: (1) the corporation; (2) each individual who is an executive officer or director of the corporation; and (3) each person who is directly or indirectly the beneficial owner of more than 10 percent of the outstanding voting securities of the corporation. (i) The department may disapprove an acquisition of control if, after notice and opportunity for hearing, the commissioner determines that: (1) immediately on the change of control the license holder would not be able to satisfy the requirements for the public insurance adjuster license; (2) the competence, trustworthiness, experience, and integrity of the persons who would control the operation of the license holder are such that it would not be in the interest of the insurance consumers of this state to permit the acquisition of control; or (3) the acquisition of control would violate the Insurance Code or another law of this state, another state, or the United States. (j) Notwithstanding subsection (h) of this section, a change in control is considered approved if the department has not proposed to deny the requested change before the 61st day after the date the department receives all information required by this section. (k) The commissioner is the corporation's or partnership's agent for service of process in the manner provided by Insurance Code Chapter 804 in a legal proceeding against the corporation or partnership if: (1) the corporation or partnership licensed to transact business in this state fails to appoint or maintain an agent for service in this state; (2) an agent for service cannot with reasonable diligence be found; or (3) the license of a corporation or partnership is revoked. (l) If a license holder does not maintain the qualifications necessary to obtain the license, the department shall revoke or suspend the license or deny the renewal of the license under Insurance Code Article 21.01-2 or 21.07-5. (m) Each public insurance adjuster shall maintain all insurance records, including all records relating to customer complaints received from customers and the department, separate from the records of any other business in which the person may be engaged and in the manner specified in Insurance Code Article 21.07-5. (n) The department may license a depository institution or entity chartered by the federal Farm Credit Administration under the farm credit system established under 12 U.S.C. Section 2001 et seq., as amended, to act as a public insurance adjuster in the manner provided for the licensing of a corporation under this section.