(1) Not later than 30 days before the end of the 12-month regulatory sandbox demonstration period, a sandbox participant may request an extension of the regulatory sandbox demonstration period.
(2) The regulatory relief office shall grant or deny a request for an extension in accordance with Subsection (1) by the end of the 12-month regulatory sandbox testing period.
(3) The regulatory relief office may grant an extension in accordance with this section for not more than 12 months after the end of the initial regulatory sandbox demonstration period.