(a) An issuer or registered dealer may file a renewal application with the commissioner if the securities authorized to be sold under a permit qualifying securities for sale that is issued under this subchapter are not sold before the permit expires.
(b) The renewal application must:
(1) state:
(A) the total number of shares sold in this state;
(B) the total number of shares sold outside this state; and
(C) the total number of shares outstanding;
(2) contain a detailed balance sheet;
(3) contain an operating statement; and
(4) provide any other information the commissioner may require.
(c) The commissioner shall examine a renewal application and issue a renewal permit or deny the application using the standards stated in Section 4003.006 applicable to an original application.
(d) If issued, a renewal permit:
(1) is valid for one year; and
(2) must be in the form the commissioner prescribes.