reglab/housing_qa huggingface dataset:
TX Govt Code § 4005.024 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.024. Exemptions by Rule or Order

Sec. 4005.024.  EXEMPTIONS BY RULE OR ORDER.  The exemption provided by Section 4005.001 applies to the sale of a security made in other transactions or under other conditions not specified in this subchapter as the board by rule or order may define or prescribe, conditionally or unconditionally.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.025 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.025. Issuance or Transfer to Nonprofits

Sec. 4005.025.  ISSUANCE OR TRANSFER TO NONPROFITS.  The exemption provided by Section 4005.001 applies to the issuance or transfer of securities by the issuer of its securities to a corporation or association organized exclusively for a religious, educational, benevolent, fraternal, charitable, or reformatory purpose and not for pecuniary profit, only if:(1)  the corporation or association does not provide anything of value for the securities other than, for a security that is an option, payment of the exercise price of the option to acquire the securities at a price not to exceed the fair market value of the underlying securities on the date the option was granted;(2)  the issuance or transfer is not made for the purpose of raising capital for the issuer;(3)  a commission or other form of consideration is not paid or provided to a third party with respect to the issuance or transfer; and(4)  the issuance or transfer is not directly or indirectly for the purposes of providing or furthering a scheme to violate or evade this title.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.051 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.051. Scope of Exemption

Sec. 4005.051.  SCOPE OF EXEMPTION.  Except as expressly provided otherwise in this title, this title does not apply to a security described by this subchapter when offered for sale, sold, or dealt in by a registered dealer or a registered dealer's agent.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.052 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.052. Railroads or Utilities

Sec. 4005.052.  RAILROADS OR UTILITIES.  The exemption provided by Section 4005.051 applies to:(1)  a security issued or guaranteed either as to principal, interest, or dividend by a corporation that owns or operates a railroad or any other public service utility if the corporation is subject to regulation or supervision either as to the corporation's rates and charges or as to the issuance of the corporation's own securities by:(A)  the Texas Department of Transportation; or(B)  a public commission, an agency, a board, or officers of:(i)  the government of the United States;(ii)  the District of Columbia, a state, territory, or insular possession of the United States, or a municipal corporation; or(iii)  Canada or a province of Canada; or(2)  equipment trust certificates or equipment notes or bonds:(A)  that are based on chattel mortgages, leases or agreements for conditional sale of cars, motive power or other rolling stock mortgages, leased or sold to or provided for the use of or on a railroad or other public service utility corporation if the corporation is subject to regulation or supervision as described by Subdivision (1); or(B)  for which the ownership or title of the equipment is pledged or retained to secure the payment of the equipment trust certificates, bonds, or notes, in accordance with the laws of:(i)  the United States;(ii)  the District of Columbia or a state, territory, or insular possession of the United States; or(iii)  Canada or a province of Canada.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.053 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.053. Nonprofit Corporations

Sec. 4005.053.  NONPROFIT CORPORATIONS.  The exemption provided by Section 4005.051 applies to a security issued and sold by a domestic corporation that:(1)  is not organized and engaged in business for profit; and(2)  does not have capital stock.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.054 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.054. Listed Securities

Sec. 4005.054.  LISTED SECURITIES.  (a)  The exemption provided by Section 4005.051 applies to securities that at the time of sale:(1)  are fully listed on:(A)  the American Stock Exchange;(B)  the Boston Stock Exchange;(C)  the Chicago Stock Exchange;(D)  the New York Stock Exchange; or(E)  a recognized and responsible stock exchange approved by the commissioner, as provided by Subchapter C;(2)  are designated or approved for designation on notice of issuance on the national market system of the NASDAQ stock market; or(3)  are senior to, or if of the same issue, on a parity with, any securities listed or designated as described by Subdivision (1) or (2) or represented by subscription rights that are listed or designated as described by Subdivision (1) or (2), or evidence of indebtedness guaranteed by a company, any stock of which is listed or designated as described by Subdivision (1) or (2).(b)  Securities described by Subsection (a) are exempt only so long as the exchange on which the securities are listed remains approved under this section or Subchapter C.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.055 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.055. Commercial Paper

Sec. 4005.055.  COMMERCIAL PAPER.  The exemption provided by Section 4005.051 applies to:(1)  commercial paper that:(A)  arises out of a current transaction or the proceeds of which have been or are to be used for current transactions; and(B)  evidences an obligation to pay cash not later than the ninth month after the issuance date of the commercial paper, not including days of grace;(2)  a renewal of commercial paper described by Subdivision (1) that is similarly limited; or(3)  a guarantee of commercial paper described by Subdivision (1) or of a renewal described by Subdivision (2).|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.056 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.056. Secured Debt

Sec. 4005.056.  SECURED DEBT.  The exemption provided by Section 4005.051 applies to notes, bonds, or other evidence of indebtedness or certificates of ownership that:(1)  are equally and proportionately secured without reference of priority of one over another; and(2)  by the terms of the instrument creating the lien, continue to be secured by the deposit with a trustee of recognized responsibility approved by the commissioner of any of the securities specified in:(A)  Section 4005.017, if the deposited securities have an aggregate par value of not less than 110 percent of the par value of the securities being secured; or(B)  Section 4005.052, if the deposited securities have an aggregate par value of not less than 125 percent of the par value of the securities being secured.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.057 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.057. Nonprofit Debt

Sec. 4005.057.  NONPROFIT DEBT.  The exemption provided by Section 4005.051 applies to notes, bonds, or other evidence of indebtedness of a religious, charitable, or benevolent corporation.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.058 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter B. Exempt Securities|Section 4005.058. Suspension of Exempt Status of Trading System

Sec. 4005.058.  SUSPENSION OF EXEMPT STATUS OF TRADING SYSTEM.  (a)  The commissioner, by the same procedures described by Section 4005.105, may at any time suspend the exempt status of any trading system exempted by the legislature on or after January 1, 1989, if at the time of the hearing the trading system does not meet the applicable standards for approval of exchanges provided by this title.(b)  The suspension of a trading system under Subsection (a) has the same effect as the withdrawal of approval of a stock exchange under Section 4005.105.(c)  The suspension under Subsection (a) remains in effect until the commissioner by order determines that the trading system:(1)  has corrected each deficiency on which the suspension was based; and(2)  maintains standards and procedures that provide reasonable protection to the public.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.101 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter C. Procedures for Approval of Stock Exchange|Section 4005.101. Application for Approval

Sec. 4005.101.  APPLICATION FOR APPROVAL.  An organized stock exchange may apply to the commissioner for approval in the manner and on the forms 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 § 4005.102 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter C. Procedures for Approval of Stock Exchange|Section 4005.102. Approval of Stock Exchange

Sec. 4005.102.  APPROVAL OF STOCK EXCHANGE.  The commissioner may approve a stock exchange only if the commissioner finds that the facts and data provided with the application establish that:(1)  the requirements for the listing of securities on the exchange seeking approval provide reasonable protection to the public; and(2)  the governing constitution, bylaws, or regulations of the exchange require:(A)  an adequate examination into the affairs of the issuer of the securities to be listed on the exchange before permitting trading on the exchange;(B)  that the issuer of the securities, while the securities are listed on the exchange, shall periodically prepare, make public, and provide promptly to the exchange appropriate income, profit and loss, and other financial statements;(C)  that securities listed and traded on the exchange be restricted to securities of ascertained, sound asset or income value; and(D)  a reasonable surveillance of the exchange's members, including a requirement for periodical financial statements, a determination of the members' financial responsibility, and the right and obligation of the exchange's governing body to suspend or expel any member found:(i)  to be financially embarrassed or irresponsible; or(ii)  guilty of misconduct in the member's business dealings or of conduct prejudicial to the rights and interests of the member's customers.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.103 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter C. Procedures for Approval of Stock Exchange|Section 4005.103. Investigation and Hearing

Sec. 4005.103.  INVESTIGATION AND HEARING.  The commissioner may approve a stock exchange only after a reasonable investigation and hearing.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.104 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter C. Procedures for Approval of Stock Exchange|Section 4005.104. Order of Approval

Sec. 4005.104.  ORDER OF APPROVAL.  The commissioner's approval of a stock exchange must be made by a written order based on a finding of fact substantially in accordance with the requirements of Sections 4005.101 and 4005.102.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.105 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter C. Procedures for Approval of Stock Exchange|Section 4005.105. Withdrawal of Approval

Sec. 4005.105.  WITHDRAWAL OF APPROVAL.  At any time, the commissioner, on 10 days' notice and hearing, may withdraw approval of a stock exchange that at the time of the hearing does not meet the standards for approval under this title.  On the withdrawal of approval, securities listed on the exchange are not exempt from this title until the commissioner issues an order approving the exchange.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.001 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter A. Certain Registration and Notice Filing Fees|Section 4006.001. Certain Registration and Notice Filing Fees

Sec. 4006.001.  CERTAIN REGISTRATION AND NOTICE FILING FEES.  The board shall establish the following fees in amounts so that the aggregate amount that exceeds the amount of the fees on September 1, 2002, produces sufficient revenue to cover the costs of administering and enforcing this title:(1)  for filing an original, amended, or renewal application or registration statement to sell or dispose of securities, an amount not to exceed $100;(2)  for filing an original application of a dealer or investment adviser or submitting a notice filing for a federal covered investment adviser, an amount not to exceed $100;(3)  for filing a renewal application of a dealer or investment adviser or submitting a renewal notice filing for a federal covered investment adviser, an amount not to exceed $100;(4)  for filing an original application for each agent, officer, or investment adviser representative or submitting a notice filing for each representative of a federal covered investment adviser, an amount not to exceed $100; and(5)  for filing a renewal application for each agent, officer, or investment adviser representative or submitting a renewal notice filing for each representative of a federal covered investment adviser, an amount not to exceed $100.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.051 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.051. Notice for Secondary Trading Exemption

Sec. 4006.051.  NOTICE FOR SECONDARY TRADING EXEMPTION.  The commissioner or board shall charge and collect:(1)  a fee of $500 for filing an initial notice required by the commissioner to claim a secondary trading exemption; and(2)  a fee of $500 for filing a secondary trading exemption renewal notice.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.052 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.052. Notice for Limited Offering Exemption

Sec. 4006.052.  NOTICE FOR LIMITED OFFERING EXEMPTION.  (a)  Subject to Subsection (b), for filing an initial notice required by the commissioner to claim a limited offering exemption, the commissioner or board shall charge and collect a fee of one-tenth of one percent of the aggregate amount of securities described as being offered for sale.(b)  A fee charged under this section may not exceed $500.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.053 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.053. Application for Approval of Stock Exchange

Sec. 4006.053.  APPLICATION FOR APPROVAL OF STOCK EXCHANGE.  The commissioner or board shall charge and collect a fee of $10,000 for filing an application for approval of a stock exchange.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.054 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.054. Amendment or Duplicate of Registration Certificate or Evidence of Registration

Sec. 4006.054.  AMENDMENT OR DUPLICATE OF REGISTRATION CERTIFICATE OR EVIDENCE OF REGISTRATION.  The commissioner or board shall charge and collect a fee of $25 for a filing to:(1)  amend the registration certificate of a dealer or investment adviser or the evidence of registration of an agent or investment adviser representative; or(2)  issue a duplicate certificate or evidence of registration.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.Amended by: Acts 2021, 87th Leg., R.S., Ch. 915 (H.B. 3607), Sec. 9.107, eff. January 1, 2022.|Sec. 4006.055.  EXAMINATION OF CERTAIN APPLICATIONS OR REGISTRATION STATEMENTS.  (a)  For the examination of an original or amended application or registration statement filed under Subchapter A, B, or C, Chapter 4003, the commissioner or board shall charge and collect a fee of one-tenth of one percent of the aggregate amount of securities described and proposed to be sold to persons located in this state based on the price at which the securities will be offered to the public.(b)  A fee under this section applies regardless of whether the application or registration statement is denied, abandoned, withdrawn, or approved.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.056 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.056. Certified Copies

Sec. 4006.056.  CERTIFIED COPIES.  (a)  For a certified copy of any papers filed in the office of the commissioner, the commissioner shall charge and collect a fee that is reasonably related to the costs of producing the certified copy.(b)  A fee charged under this section may not be more than a fee that the secretary of state is authorized to charge for a similar service.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.057 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.057. Request to Take Examination

Sec. 4006.057.  REQUEST TO TAKE EXAMINATION.  The commissioner or board shall charge and collect a fee of $35 for filing a request to take the Texas Securities Law Examination.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.058 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter B. Exemption Fees and Other Fees|Section 4006.058. Interpretation by General Counsel

Sec. 4006.058.  INTERPRETATION BY GENERAL COUNSEL.  (a)  Except as provided by Subsection (b), the commissioner or board shall charge and collect a fee of $100 for an interpretation by the board's general counsel of this title or a rule adopted under this title.(b)  An officer or employee of a governmental entity and the entity that the officer or employee represents are exempt from the fee under this section if the officer or employee is conducting official business of the entity.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.101 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter C. Provisions Applicable to Certain Fees|Section 4006.101. Reasonable and Necessary Requirement

Sec. 4006.101.  REASONABLE AND NECESSARY REQUIREMENT.  Subject to Subchapter A, the board shall set a fee under Subchapters A and B in an amount that is reasonable and necessary to defray costs.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.102 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter C. Provisions Applicable to Certain Fees|Section 4006.102. Reduced Fees

Sec. 4006.102.  REDUCED FEES.  (a)  The board by rule may adopt reduced fees under Section 4006.001 for original and renewal applications of dealers, agents, officers, investment advisers, or investment adviser representatives who have assumed inactive status as defined by the board.(b)  The board by rule may adopt reduced fees under Section 4006.001 as appropriate to accommodate a small business required by this title to register in two or more of the following capacities:(1)  dealer;(2)  agent;(3)  investment adviser;(4)  investment adviser representative; or(5)  officer.(c)  A person is not required to pay more than one fee required under Section 4006.001 to engage in business in this state concurrently for the same person or company as:(1)  a dealer and an investment adviser; or(2)  an agent and investment adviser representative.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.103 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter C. Provisions Applicable to Certain Fees|Section 4006.103. Payment of Certain Costs

Sec. 4006.103.  PAYMENT OF CERTAIN COSTS.  A cost incurred by the board in administering this title may be paid only from a fee collected under Section 4006.001.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.104 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter C. Provisions Applicable to Certain Fees|Section 4006.104. Refund of Registration Fee

Sec. 4006.104.  REFUND OF REGISTRATION FEE.  If the commissioner or board determines that all or part of a registration fee should be refunded, the commissioner may make the refund by warrant on the state treasury from money appropriated from the general revenue fund for that purpose.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4006.151 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4006 - Fees|Subchapter D. Fees for Certain Sales or Offers of Securities|Section 4006.151. Fee for Sale of Excess Securities

Sec. 4006.151.  FEE FOR SALE OF EXCESS SECURITIES.  (a)  An offeror who sells securities in this state in excess of the aggregate amount of securities registered for the offering may apply to register the excess securities by paying:(1)  three times the difference between the initial fee paid and the fee required under Section 4006.055 for the securities sold to persons in this state;(2)  if the registration is no longer in effect, interest on that amount computed at the rate provided by Section 302.002, Finance Code, from the date the registration was no longer in effect until the date the subsequent application is filed; and(3)  the amendment fee prescribed by Section 4006.001(1).(b)  If an application to register excess securities is granted under Subsection (a), the registration of the excess securities is effective retroactively to the effective date of the initial registration for the offering.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|