reglab/housing_qa huggingface dataset:
TX Govt Code § 4002.203 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4002 - State Securities Board and Securities Commissioner|Subchapter E. Consumer Interest and Other Public Interest Information|Section 4002.203. Documents and Other Information Filed With Commissioner; Public Records

Sec. 4002.203.  DOCUMENTS AND OTHER INFORMATION FILED WITH COMMISSIONER; PUBLIC RECORDS.  (a)  All information, papers, documents, instruments, and affidavits required by this title to be filed with the commissioner are public records.(b)  All information, papers, documents, instruments, and affidavits required by this title to be filed with the commissioner must be open to inspection and examination by a purchaser or prospective purchaser of securities, or by the agent or representative of a purchaser or prospective purchaser of securities.  The commissioner shall:(1)  provide to a purchaser or prospective purchaser of securities, or an agent or representative of those persons, any information required to be filed with the commissioner under this title; and(2)  on request by a person described by Subdivision (1), provide a certified copy of any paper, document, instrument, or affidavit filed with the commissioner under this title.(c)  This section does not apply to information made confidential by Section 4002.161, 4007.052, or 4007.056 or other law.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.001 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.001. Permit Required; Exceptions

Sec. 4003.001.  PERMIT REQUIRED; EXCEPTIONS.  (a)  A dealer or agent may not sell or offer for sale any securities issued after September 6, 1955, unless the commissioner has issued a permit qualifying securities for sale for those securities to the issuer of the securities or a registered dealer.(b)  This section does not apply to:(1)  securities that have been registered by notification under Subchapter B or by coordination under Subchapter C; or(2)  transactions or securities that are exempt under Chapter 4005.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.004 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.004. Exceptions to Certification Requirement for Financial Statements

Sec. 4003.004.  EXCEPTIONS TO CERTIFICATION REQUIREMENT FOR FINANCIAL STATEMENTS.  (a)  Financial statements filed as required by this subchapter are not required to be certified by an independent certified public accountant or independent public accountant if:(1)  the fiscal year of the issuer of the securities to be qualified for sale ended on a date earlier than the 90th day before the date of the filing; and(2)  financial statements in addition to those required by this subchapter are filed that:(A)  contain the information required by Section 4003.003; and(B)  are certified by an independent certified public accountant or independent public accountant as of the end of the issuer's preceding fiscal year.(b)  Instead of being audited and certified, the financial statements described by Section 4003.003 of a small business issuer, as defined by board rule, that meets all other requirements the board by rule or order prescribes, conditionally or unconditionally, may be reviewed by an independent certified public accountant in accordance with the Statements on Standards for Accounting and Review Services promulgated by the American Institute of Certified Public Accountants.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.005 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.005. Permit Fee

Sec. 4003.005.  PERMIT FEE.  The commissioner shall charge the fees provided by Chapter 4006 for the issuance of a permit qualifying securities for sale.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.006 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.006. Examination of and Determination on Permit Application

Sec. 4003.006.  EXAMINATION OF AND DETERMINATION ON PERMIT APPLICATION.  (a)  On the filing of an application for a permit qualifying securities for sale under this subchapter, the commissioner shall examine the application and the papers and documents filed with the application.(b)  After the examination, the commissioner shall:(1)  issue a permit to the applicant authorizing the applicant to issue and dispose of the securities if the commissioner determines that:(A)  the applicant's proposed plan of business appears to be fair, just, and equitable;(B)  any consideration paid or to be paid by promoters for the securities is fair, just, and equitable if that consideration is less than the proposed offering price to the public; and(C)  the securities the applicant proposes to issue and the methods to be used by the applicant in issuing and disposing of the securities will not work a fraud upon the purchaser of the securities; or(2)  deny the application for a permit and notify the applicant in writing of the commissioner's decision if the commissioner determines that the applicant's proposed plan of business appears to be unfair, unjust, or inequitable.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.007 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.007. Form and Contents of Permit

Sec. 4003.007.  FORM AND CONTENTS OF PERMIT.  A permit qualifying securities for sale must:(1)  be in the form the commissioner prescribes; and(2)  state in bold type that the issuance of the permit is permissive only and does not constitute a recommendation or endorsement of the securities permitted to be issued.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.008 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.008. Term of Permit

Sec. 4003.008.  TERM OF PERMIT.  A permit qualifying securities for sale that is issued under this subchapter is valid for one year.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.009 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.009. Renewal of Permit

Sec. 4003.009.  RENEWAL OF PERMIT.  (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.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.010 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter A. Permit Qualifying Securities for Sale|Section 4003.010. Use of Permit for Certain Purposes Prohibited

Sec. 4003.010.  USE OF PERMIT FOR CERTAIN PURPOSES PROHIBITED.  A dealer, issuer, or agent may not use a permit qualifying securities for sale in connection with a sale or effort to sell a security.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.051 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.051. Eligibility for Registration by Notification

Sec. 4003.051.  ELIGIBILITY FOR REGISTRATION BY NOTIFICATION.  (a)  Securities may be registered by notification under this subchapter if the securities are issued by an issuer that:(1)  has been in continuous operation for at least three years; and(2)  has shown, during at least the three years preceding the date of registration under this subchapter, average annual net earnings after deducting all prior charges, including income taxes but not including charges on securities to be retired out of the proceeds of sale, as follows:(A)  for interest-bearing securities, not less than one and one-half times the annual interest charges on those securities and on all other outstanding interest-bearing securities of equal rank;(B)  for securities with a specified dividend rate, not less than one and one-half times the annual dividend requirements on those securities and on all other outstanding securities of equal rank; and(C)  for securities with no specified dividend rate, not less than five percent on all outstanding securities of equal rank, together with the amount of those securities then offered for sale, based on the maximum price at which the securities are to be offered for sale.(b)  For purposes of calculating average annual net earnings under Subsection (a)(2)(C), an issuer's ownership of more than 50 percent of the outstanding voting stock of a corporation:(1)  is construed as the issuer's proportionate ownership of that corporation; and(2)  permits the inclusion of that corporation's earnings applicable to the payment of dividends on the stock owned in the earnings of the issuer of the securities being registered by notification.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.052 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.052. Registration Statement Required

Sec. 4003.052.  REGISTRATION STATEMENT REQUIRED.  (a)  To register securities by notification that are entitled to that registration, an issuer of the securities or a registered dealer must file with the commissioner a registration statement that complies with this section.(b)  A registration statement filed under this section must:(1)  be in the form the commissioner prescribes;(2)  be signed by the applicant filing the statement; and(3)  contain the following information:(A)  the name and business address of the main office of the issuer of the securities to be registered and the address of the issuer's principal office, if any, in this state;(B)  the title of the securities to be registered and the total amount of securities to be offered;(C)  the price at which the securities are to be offered for sale to the public, the amount of securities to be offered in this state, and the amount of the registration fee, computed as provided by Chapter 4006;(D)  a brief statement of the facts showing that the securities are entitled to be registered by notification;(E)  the name and business address of the applicant filing the statement;(F)  subject to Subsection (c) and except as provided by Section 4003.053, financial statements that include, for at least the three years preceding the date of registration:(i)  a certified income statement;(ii)  a certified balance sheet; and(iii)  a certified statement of stockholders' equity;(G)  a copy of any prospectus describing the securities; and(H)  a filing of a consent to service of process conforming to the requirements of Section 4001.102, if the issuer:(i)  is registering the securities; and(ii)  is not a resident of this state or incorporated or formed under the laws of this state.(c)  The financial statements described by Subsection (b)(3)(F) must reflect the financial condition of the issuer of the securities to be registered on a date not earlier than the 90th day before the date the issuer or registered dealer files the registration statement.(d)  Filing a registration statement that complies with this section constitutes the registration of the securities by notification, subject to Section 4003.055.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.053 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.053. Exception to Certification Requirement for Financial Statements

Sec. 4003.053.  EXCEPTION TO CERTIFICATION REQUIREMENT FOR FINANCIAL STATEMENTS.  Financial statements filed as required by this subchapter are not required to be certified by an independent certified public accountant or independent public accountant if:(1)  the fiscal year of the issuer of the securities to be registered ended on a date earlier than the 90th day before the date of the filing; and(2)  financial statements in addition to those required by this subchapter are filed that:(A)  contain the information required by Section 4003.052; and(B)  are certified by an independent certified public accountant or independent public accountant as of the end of the issuer's preceding fiscal year.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.054 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.054. Registration Procedures

Sec. 4003.054.  REGISTRATION PROCEDURES.  (a)  The commissioner shall complete the procedures specified by this section to register securities entitled to registration by notification.(b)  The commissioner shall:(1)  examine the registration statement filed under Section 4003.052 and the accompanying papers to determine their sufficiency under the requirements of this subchapter; and(2)  record the registration by notification of the securities described on receipt of:(A)  the registration statement;(B)  any prospectus;(C)  payment of the filing fee and registration fee; and(D)  a consent to service of process, if required.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.055 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.055. Effective Date of Registration by Notification

Sec. 4003.055.  EFFECTIVE DATE OF REGISTRATION BY NOTIFICATION.  (a)  Except as provided by Subsection (b), the registration of securities by notification takes effect five days after the date the commissioner receives the registration statement filed under Section 4003.052 and all accompanying papers.(b)  The commissioner may waive or reduce the five-day waiting period if the commissioner determines that the public will not be injured by the waiver or reduction of the waiting period.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.056 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.056. Effect of Registration by Notification

Sec. 4003.056.  EFFECT OF REGISTRATION BY NOTIFICATION.  On registration of securities by notification, the securities may be sold in this state by a registered dealer or a registered agent.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.057 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.057. Term of Registration

Sec. 4003.057.  TERM OF REGISTRATION.  A registration of securities by notification is effective for one year.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.058 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.058. Renewal of Registration

Sec. 4003.058.  RENEWAL OF REGISTRATION.  A registration of securities by notification may be renewed for additional periods of one year if:(1)  the securities are entitled to registration under this subchapter at the time of renewal; and(2)  a new filing is made under this subchapter together with the payment of the renewal fee of $10.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.059 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter B. Registration by Notification|Section 4003.059. Insufficient or Fraudulent Registration Statement

Sec. 4003.059.  INSUFFICIENT OR FRAUDULENT REGISTRATION STATEMENT.  (a)  If at any time, in the commissioner's opinion, the information in a registration statement filed under this subchapter is insufficient to establish that the securities described in the statement are or were entitled to registration by notification under this subchapter, or that the registration information contains or contained false, misleading, or fraudulent facts, the commissioner may order the applicant who filed the statement to cease and desist from selling or offering for sale the securities registered or proposed to be registered by notification under this subchapter until additional information is filed with the commissioner that in the commissioner's judgment is necessary to establish that those securities are or were entitled to registration by notification under this subchapter.(b)  The provisions of Section 4007.107 relating to hearings apply to an order entered under this section.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.101 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter C. Registration by Coordination|Section 4003.101. Eligibility for Registration by Coordination

Sec. 4003.101.  ELIGIBILITY FOR REGISTRATION BY COORDINATION.  A security may be registered by coordination if a registration statement has been filed under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) in connection with the same offering.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.102 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter C. Registration by Coordination|Section 4003.102. Registration Statement Required

Sec. 4003.102.  REGISTRATION STATEMENT REQUIRED.  To register securities by coordination, an issuer of the securities or a registered dealer must file with the commissioner a registration statement that contains:(1)  the following information:(A)  the amount of securities to be offered in this state;(B)  the states in which a registration statement or similar document in connection with the offering has been or is expected to be filed; and(C)  any adverse order, judgment, or decree previously entered in connection with the offering by a court or the Securities and Exchange Commission;(2)  one copy of the prospectus filed under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) together with all amendments to the prospectus;(3)  a copy of:(A)  the articles of incorporation and bylaws, or their substantial equivalents, currently in effect;(B)  any agreements with or among underwriters; and(C)  any indenture or other instrument governing the issuance of the securities to be registered;(4)  a specimen or copy of the security;(5)  any other information or copies of any other documents filed under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) the commissioner requests;(6)  an undertaking to promptly forward all amendments to the federal registration statement other than an amendment that delays the effective date only; and(7)  a consent to service of process conforming to the requirements of Section 4001.102 if:(A)  the registration statement is filed by the issuer or by a dealer that will offer the securities for sale as the issuer's agent; and(B)  the issuer is not a resident of this state or incorporated or formed under the laws of this state.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.104 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter C. Registration by Coordination|Section 4003.104. Term of Registration

Sec. 4003.104.  TERM OF REGISTRATION.  (a)  Except as provided by this section, a registration by coordination of securities under this subchapter is effective until the first anniversary of the date the commissioner declares the registration to be effective.(b)  The initial registration by coordination of securities of an open-end investment company, as defined by the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.), is effective until two months after the end of the issuer's fiscal year.(c)  The registration by coordination of securities of a unit investment trust, as defined by the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.), is effective until the first anniversary of the date of effectiveness granted by the Securities and Exchange Commission.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.105 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter C. Registration by Coordination|Section 4003.105. Renewal of Registration

Sec. 4003.105.  RENEWAL OF REGISTRATION.  (a)  Except as provided by Subsection (b) and subject to Subsection (c), a registration of securities under Section 4003.104 may be renewed for additional periods of one year if the appropriate registration forms and renewal fees are received before the expiration date of the registration to be renewed.(b)  Subject to Subsection (c), for renewal of the initial registration of securities described by Section 4003.104(b), the issuer or the issuer's agent may renew the registration by submitting the appropriate registration forms and renewal fees  not later than two months after the end of the issuer's fiscal year.(c)  The same standards of fairness, justice, and equity prescribed by this subchapter for original approval of a registration apply to the renewal of the registration.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4003.151 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4003 - Securities|Subchapter D. Prohibited Sales|Section 4003.151. Certain Sales Prohibited

Sec. 4003.151.  CERTAIN SALES PROHIBITED.  If the sale of a security entitles the purchaser or subsequent holder to exchange that security for another, or to purchase another security, the sale of, including an exchange for, the other security may not be made unless the sale is authorized under this title, if not exempt under this title, or by another provision of law.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|