(a) Notice to applicant. Within 15 days from receipt of an application for an insurance premium finance license, the agency shall determine an application to be complete or deficient and shall immediately issue written notice to the applicant regarding the status of the application.
(1) Complete application. (2) Deficient application. (b) Processing of application. Within 90 days after receipt of an application, the agency shall notify the applicant that: (1) the application has been approved and a license will be issued on payment of the appropriate license fee; or (2) the application has been denied. (c) Application denied. An application which is not complete within 90 days from the date of its originalreceipt shall be denied.
Source Note: The provisions of this §1.810 adopted to be effective January 10, 1989, 14 TexReg 114.