Texas Finance Code - Section 151.205. Issuance Of License
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Texas Lawyer > Finance Code > Texas Finance Code - Section 151.205. Issuance Of License
§ 151.205. ISSUANCE OF LICENSE. (a) The commissioner
shall issue a license if the commissioner, with respect to the
license for which application has been made, finds that:
(1) the applicant meets the prescribed qualifications
and it is reasonable to believe that the applicant's business will
be conducted fairly and lawfully, according to applicable state and
federal law, and in a manner commanding the public's trust and
confidence;
(2) the issuance of the license is in the public
interest;
(3) the documentation and forms required to be
submitted by the applicant are acceptable; and
(4) the applicant has satisfied all requirements for
licensure.
(b) If the commissioner finds that the applicant for any
reason fails to possess the qualifications or satisfy the
requirements for the license for which application is made, the
commissioner shall inform the applicant in writing that the
application is denied and state the reasons for the denial. The
applicant may appeal the denial by filing a written request for a
hearing with the commissioner not later than the 30th day after the
date the notice is mailed. A hearing on the denial must be held not
later than the 45th day after the date the commissioner receives the
written request unless the administrative law judge extends the
period for good cause or the parties agree to a later hearing date.
The hearing is considered a contested case hearing and is subject to
Section 151.801.
Added by Acts 2005, 79th Leg., ch. 1099, § 1, eff. Sept. 1, 2005.
Section: 151.104 151.105 151.106 151.201 151.202 151.203 151.204 151.205 151.206 151.207 151.208 151.209 151.301 151.302 151.303
Last modified: August 10, 2007
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