Section 1304.1025 - Additional Registration and Renewal Requirements for Providers(a) In addition to the requirements of Section 1304.102, an applicant for issuance or renewal of a provider registration must file with the application: (1) the reimbursement insurance policy, if the provider is using a reimbursement insurance policy to meet the financial security requirements of Section 1304.151;(2) the financial security deposit and the documentation required by the department demonstrating adequate funding of the reserve account, if the provider is using a funded reserve account and financial security deposit to meet the financial security requirements of Section 1304.151;(3) the proof necessary to demonstrate the applicant or its parent company maintains at least $100 million net worth, if the applicant is using net worth to meet the financial security requirements of Section 1304.151; and(4) information about each controlling person of the applicant in a form prescribed by the executive director.(b) The executive director may not issue or renew a registration to a provider unless the provider provides evidence to the executive director that:(1) each controlling person of the provider is trustworthy and can competently manage the affairs of the provider in compliance with this chapter; and(2) the provider can meet the provider's obligations under service contracts and this chapter.(c) Not later than the 30th day after the date of a provider's initial registration, the provider must provide to the department a list of any Internet website address through which a consumer may purchase the provider's service contracts and the name, assumed name, street address, and telephone number of: (1) any administrator appointed by the provider under Section 1304.153; and(2) any seller of the provider's service contracts, other than a seller that is:(A) an employee of the provider; or(B) a business with a physical location in this state at which a consumer may purchase a service contract.(d) The provider shall update the list required by Subsection (c) with each renewal.Tex. Occ. Code § 1304.1025
Amended By Acts 2011, 82nd Leg., R.S., Ch. 1081, Sec. 1.06, eff. 9/1/2011.Added by Acts 2005, 79th Leg., Ch. 63, Sec. 6, eff. 1/1/2006.