The commission may not issue or renew a commercial lessor license for people and entities listed as ineligible, with a narrow nonprofit exception.
Sec. 2001.154. INELIGIBLE PERSONS. (a) The commission may not issue a commercial lessor license to or renew a commercial lessor license of: (1) a person convicted of criminal fraud or a gambling or gambling-related offense; (2) a public officer who receives any consideration, direct or indirect, as owner or lessor of premises offered for conducting bingo; (3) a person who loans money to an authorized organization; (4) a distributor or manufacturer; (5) a person in which a person covered by Subdivision (1), (2), (3), or (4) or a person married or related in the first degree by consanguinity or affinity, as determined under Chapter 573, Government Code, to one of those persons has greater than a 10 percent proprietary, equitable, or credit interest or in which one of those persons is active or employed; (6) a foreign corporation or other foreign legal entity; (7) an individual who is not a resident of this state; (8) a corporation or other legal entity owned or controlled by: (A) a foreign corporation; or (B) an individual who is not a resident of this state; or (9) a corporation or other legal entity: (A) whose shares are publicly traded; or (B) owned or controlled by a corporation whose shares are publicly traded. (b) Subsection (a)(5) does not prevent an authorized organization or other person that is not organized for pecuniary profit and no part of the net earnings of which inure to the benefit of an individual, member, or shareholder from being licensed as a commercial lessor solely because a public officer or a person married or related in the first degree by consanguinity or affinity to a public officer is a member of, active in, or employed by the authorized organization or other person. Acts 1999, 76th Leg., ch. 388, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 993 (H.B. 2197), Sec. 22, eff. September 1, 2013. Acts 2017, 85th Leg., R.S., Ch. 860 (H.B. 2578), Sec. 4, eff. September 1, 2017.