2023 Texas Statutes › Government Code › Title 12 - Securities Act › Chapter 4004 - Regulation of Dealers, Investment Advisers, Dealers' Agents, and Investment Adviser Representatives › Subchapter B. Registration of Dealers and Investment Advisers › Section 4004.053. Application for Registration

Sec. 4004.053.  APPLICATION FOR REGISTRATION.  (a)  To be registered, a dealer or investment adviser must submit to the commissioner a sworn application that must be in the form the commissioner prescribes and must state:
(1)  the applicant's principal place of business;
(2)  the location of the applicant's principal place of business and all branch offices of the applicant in this state;
(3)  the name or style of doing business and the address of the applicant;
(4)  the name, residence, and business address of each person interested in the business as a principal, officer, director, or managing agent of the applicant's business, specified by capacity and title;
(5)  the general plan and character of the applicant's business;
(6)  the period the applicant has been engaged in the business; and
(7)  the places at which the applicant has engaged in the business.
(b)  An application filed under this section must contain additional information relating to the previous history, record, associations, and present financial condition of the applicant as the commissioner may require or as necessary to enable the commissioner to determine whether the sale of any securities the applicant proposes to issue or deal in would result in fraud.
(c)  An application must be accompanied by a certificate or other evidence satisfactory to the commissioner that establishes the good reputation of:
(1)  the applicant; and
(2)  the directors, officers, copartners, or principals of the applicant.
(d)  For an applicant that is a corporation organized under the laws of another state, territory, or government or that will have the applicant's principal place of business therein, the application must be accompanied by a copy of the corporation's:
(1)  articles of incorporation or similar organizational instrument, and all amendments to the document or instrument, as applicable, certified by the appropriate officer of the corporation or of the state or other jurisdiction in which the corporation is organized;
(2)  regulations; and
(3)  bylaws.
(e)  For an applicant that is a limited partnership, the application must be accompanied by either:
(1)  a copy of the articles of copartnership or similar organizational instrument of the partnership; or
(2)  a verified statement of the partnership's plan of doing business.
(f)  For an applicant that is an unincorporated association or organization under the laws of another state, territory, or government or is an unincorporated association or organization that has its principal place of business therein, the application must be accompanied by a copy of the association's or organization's articles of association, trust agreement, or other form of organization.
(g)  The commissioner shall:
(1)  prescribe the application form to be used by an applicant under this section; and
(2)  provide copies of the application form for registration to all persons who seek to submit an application to register as a dealer or investment adviser.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.