Tex. Insurance Code § 228.153
This is the official text of Tex. Insurance Code § 228.153, part of Texas’s Insurance Code — regulates insurance companies and the policies they sell.
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§ 228.153. INVESTMENT IN STRATEGIC INVESTMENT BUSINESS REQUIRED.
Official statutory text
(a) In this section:
(1) "Strategic investment area" means an area of this state that qualifies as a strategic investment area under Subchapter O, Chapter 171, Tax Code, or, after the date that subchapter expires, an area that qualified as a strategic investment area under that subchapter immediately before that date.
(2) "Strategic investment business" means a qualified business that:
(A) has the business's principal business operations located in one or more strategic investment areas; and
(B) intends to maintain business operations in the strategic investment areas after receipt of the investment by the certified capital company.
(b) A certified capital company must place at least 30 percent of the amount of qualified investments required by Sections 228.151(a) and (b) in a strategic investment business.
(1) "Strategic investment area" means an area of this state that qualifies as a strategic investment area under Subchapter O, Chapter 171, Tax Code, or, after the date that subchapter expires, an area that qualified as a strategic investment area under that subchapter immediately before that date.
(2) "Strategic investment business" means a qualified business that:
(A) has the business's principal business operations located in one or more strategic investment areas; and
(B) intends to maintain business operations in the strategic investment areas after receipt of the investment by the certified capital company.
(b) A certified capital company must place at least 30 percent of the amount of qualified investments required by Sections 228.151(a) and (b) in a strategic investment business.
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