reglab/statecodes huggingface dataset:
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 6 - CREDIT UNION DEPARTMENT › Chapter 97 - COMMISSION POLICIES AND ADMINISTRATIVE RULES › Subchapter C - DEPARTMENT OPERATIONS › Section 97.208 - Vendor Protests

Current through Reg. 49, No. 28; July 12, 2024
(a) The purpose of
				  this rule is to set forth the Department's procedures for resolving vendor
				  protests relating to purchases as required by Texas Government Code Sections
				  RSA
				  2155.076 and
				  RSA
				  2260.052(c), and the
				  adoption of rules of the Texas Comptroller of Public Accounts pursuant to Texas
				  Government Code Section
				  RSA
				  2156.005(d).
(b) The following words, when used in this
				  section, shall have the following meaning unless the context clearly indicates
				  otherwise.
(1) Commissioner--The Commissioner
				  of the Credit Union Department, State of Texas.
(2) Department--The Credit Union Department,
				  State of Texas.
(3) Deputy
				  Commissioner--The Deputy Commissioner of the Credit Union Department, State of
				  Texas.
(4) General Counsel--The
				  General Counsel of the Credit Union Department, State of Texas.
(5) Interested Parties--All vendors who have
				  submitted bids or proposals for the provision of goods or services to the
				  Credit Union Department, State of Texas.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 6 - CREDIT UNION DEPARTMENT › Chapter 97 - COMMISSION POLICIES AND ADMINISTRATIVE RULES › Subchapter D - GIFTS AND BEQUESTS › Section 97.300 - Gifts of Money or Property

Current through Reg. 49, No. 28; July 12, 2024
(a) The
				  department may accept money or property by gift, bequest, devise, or otherwise
				  ("Donation"), only from an organization described in Section 501(c)(3),
				  Internal Revenue Code of 1986, for the purposes of funding or performing any
				  authorized activity ("Donor").
(b)
				  All Donations must be accepted in an open meeting by a majority of the
				  commission members present and reported in the minutes of the meeting setting
				  forth the name of the Donor and the purpose of the Donation. Before accepting a
				  Donation, the commission may require the Donor to provide information that the
				  commission deems reasonable and necessary to ensure itself that the Donation is
				  not being conveyed to directly or indirectly influence an official act of the
				  department or the commission.
(c)
				  The department may not solicit money or property from any person or
				  organization to settle an administrative action or to keep the department from
				  taking formal enforcement action.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 6 - CREDIT UNION DEPARTMENT › Chapter 97 - COMMISSION POLICIES AND ADMINISTRATIVE RULES › Subchapter F - RULEMAKING › Section 97.500 - Petitions to Initiate Rulemaking Proceedings

Current through Reg. 49, No. 28; July 12, 2024
(a) Petitions to initiate rulemaking
				  proceeding pursuant to Government Code, §
										RSA
				  2001.021, must be submitted to the Department
				  in writing. A petition must include:
(1) a
				  brief explanation of the proposed rule;
(2) the full text of the proposed rule, and,
				  if the petition is to amend an existing rule, the text of the rule that clearly
				  identifies any words to be added or deleted from the existing text by
				  underlining new language and striking through language to be deleted;
				  and
(3) a concise explanation of
				  the legal authority to adopt the proposed rule, including a specific reference
				  to the particular statute or other authority that authorizes it.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 6 - CREDIT UNION DEPARTMENT › Chapter 97 - COMMISSION POLICIES AND ADMINISTRATIVE RULES › Subchapter F - RULEMAKING › Section 97.501 - Hearing on Proposed Rules

Current through Reg. 49, No. 28; July 12, 2024
(a)
				  The Department shall grant an opportunity for a public hearing before adoption
				  of any substantive rule as required by Government Code, §
										RSA
				  2001.029(b), or other
				  applicable statute.
(b) The hearing
				  may be held by the commissioner or by any other person designated by the
				  commissioner. In the exercise of discretion, the commissioner may impose
				  reasonable time limits on presentation of evidence and argument, determine the
				  order of the presentations, and conduct the hearing in a manner suitable to the
				  particular proceeding. Public hearings on proposed rules are neither contested
				  cases nor full legal adversary proceedings. Ex parte prohibitions do not
				  apply.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.1 - Authority

Current through Reg. 49, No. 28; July 12, 2024
(a) Introduction.
				Pursuant to the authority granted by the Texas Securities Act and the
				Administrative Procedure Act, Texas Government Code, Chapter 2001, the State
				Securities Board prescribes the following sections regarding the administration
				and implementation of the Texas Securities Act, and the procedure and practice
				before the Texas Securities Commissioner.
(b) Objective. The intent of the board is to
				supplant unwritten policies and guidelines with written rules, and to revise
				existing sections to better reflect the realities of current financial,
				commercial, and regulatory principles and practices.
(c) Responsibilities of the Board. The Board
				is the governing body of the Agency. The Board formulates policy objectives,
				oversees implementation of these objectives, and is responsible for the
				proposal, adoption, amendment and repeal of Board rules. The Board appoints the
				Securities Commissioner, who serves at the pleasure of the Board, to implement
				the policies of the Board, administer the provisions of the Texas Securities
				Act, and to manage the day-to-day operations of the Agency.
(d) Responsibilities of the Securities
				Commissioner. The Securities Commissioner implements the policies of the Board,
				administers the provisions of the Texas Securities Act, and manages the
				day-to-day operations of the Agency. It is the duty of the Securities
				Commissioner to see that the provisions of the Texas Securities Act are at all
				times obeyed and to take such measures and to make such investigations as will
				prevent or detect the violation of any provision thereof. The Commissioner
				appoints other persons as necessary to carry out the powers and duties of the
				Commissioner under the Texas Securities Act and other laws granting
				jurisdiction or applicable to the Board or the Commissioner. The Commissioner
				may delegate to the other persons appointed such powers and duties of the
				Commissioner as the Commissioner considers necessary.
(e) Delegated authority. The Board hereby
				delegates to the Commissioner the authority to waive requirements contained in
				the Board's rules, as the Commissioner may, from time to time, deem
				appropriate.
(f) Severability. If
				any provision of these sections be held invalid, such invalidity shall not
				affect other provisions that can be given effect without the invalid provision,
				and to this end the provisions of these sections are declared to be
				severable.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.3 - Application

Current through Reg. 49, No. 28; July 12, 2024
(a) Generally. All
				rules shall be applied collectively, to the extent relevant, in connection with
				specific adjudications made by the Commissioner in the course of his or her
				regulatory functions. The Commissioner will make his or her determination on
				the basis of specific characteristics and circumstances of the individual
				adjudications under consideration and in light of the basic statutory purposes
				for regulation in the particular area. The Commissioner may, in his or her
				discretion, waive any requirement of any rule in situations where, in his or
				her opinion, such requirement is not necessary in the public interest or for
				the protection of investors. The captions of the various rules are for
				convenience only. Should there be a conflict between the caption of a rule and
				the text of the rule, the text will be controlling. Material denoted by a cross
				reference caption is not a rule or part of a rule.
(b) Investor protection standard. Within the
				confines of statutory authority, conflicts between the industry and the best
				interest of the investing public will be resolved in favor of the investing
				public. Likewise, conflicts between existing securities holders and the best
				interest of the prospective investor will be resolved in favor of the
				prospective investor.
(c)
				Precedent. Because rules cannot adequately anticipate all potential application
				requirements, the failure to satisfy all regulatory standards of the Board will
				not necessarily foreclose the possibility of a favorable disposition of the
				matter pending before the Commissioner, and, similarly, the satisfaction of all
				such regulatory standards will not necessarily preclude an unfavorable
				disposition if the specific characteristics and circumstances so warrant. For
				this reason, the nature of the disposition of any particular matter pending
				before the Commissioner is not necessarily of meaningful precedential value,
				and the Commissioner shall not be bound by the precedent of any previous
				adjudication in the subsequent disposition of any pending matter.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.4 - Open Records Requests

Current through Reg. 49, No. 28; July 12, 2024
Requests for agency records will be handled pursuant to the
				  open records provisions of the Public Information Act, Texas Government Code,
				  Title 5, Chapter 552. The requesting party shall indicate in writing the
				  specific nature of the documents requested for examination or
				  duplication.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.5 - Charges for Copies of Public Records

Current through Reg. 49, No. 28; July 12, 2024
(a) The cost to any person requesting copies
				of any public record of the State Securities Board pursuant to the open records
				provisions of the Texas Government Code, Title 5, Chapter 552, will be the
				applicable charge established by the Office of the Attorney General in Title 1,
				Part 3, Chapter 70, of the Texas Administrative Code, which is reflected in
				Form 133.2.
(b) For certified
				copies the charge shall be $1.00 per page plus a $15.00 certification
				fee.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.6 - Historically Underutilized Business Program

Current through Reg. 49, No. 28; July 12, 2024
The State Securities Board adopts by reference the rules of
				  the Comptroller of Public Accounts relating to the Historically Underutilized
				  Business Program, contained in Title 34, Part 1, Chapter 20, Subchapter D, of
				  the Texas Administrative Code.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.7 - References to the Texas Securities Act in Board Rules

Current through Reg. 49, No. 28; July 12, 2024
(a) Transition. The Securities Act, Tex. Rev.
				Civ. Stat. Ann. art. 581-1 through 581-45, effective through December 31, 2021,
				will be replaced by the nonsubstantive codification of that Act, effective
				January 1, 2022. The codification is located in Title 12 of the Texas
				Government Code, Chapters 4001 through 4008. Because of the extensive
				reorganization of the Securities Act, a reader may find it helpful to compare
				the source law (Civil Statutes) with the revised law (Government Code) and
				refer to a disposition table that is available on the Agency's
				website.
(b) References and
				citations to the Act (Civil Statutes). A Board Rule that references or cites
				the Texas Securities Act, as set out in the Civil Statutes, is also a reference
				or citation to the equivalent provision in the codified Securities
				Act.
(c) Preservation of existing
				requirements, obligations, or duties. When an existing Board Rule is changed to
				update a reference or citation from the Civil Statutes to the codified
				Securities Act, that change does not invalidate or remove the requirement,
				obligation, or duty in the Board Rule arising prior to the effective date of
				the reference or citation change. A requirement, obligation, or duty accruing
				under a Board Rule is governed by the Board Rule as it existed on the date the
				action, inaction, or omission occurs.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.8 - Employee Leave Pools

Current through Reg. 49, No. 28; July 12, 2024
(a) Family
				leave pool. A family leave pool is established to provide eligible employees
				more flexibility in bonding and caring for children during a child's first year
				following birth, adoption, or foster placement, and caring for a seriously ill
				family member or the employee, including pandemic-related illnesses or
				complications caused by a pandemic.
(1) The
				Securities Commissioner is designated as the pool administrator.
(2) The pool administrator will establish
				operating procedures consistent with the requirements of this subsection and
				relevant law governing operation of the pool.
(3) Donations to the pool are strictly
				voluntary.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 101 - GENERAL ADMINISTRATION › Section 101.9 - Vendor Protest Procedures

Current through Reg. 49, No. 28; July 12, 2024
(a) Purpose. The
				purpose of this section is to establish procedures for resolving vendor
				protests relating to purchasing issues. Except as otherwise provided in this
				section, the State Securities Board adopts by reference the rules of the
				Comptroller of Public Accounts relating to Protests and Appeals, contained in
				Title 34, Part 1, Chapter 20, Subchapter F, Division 3 of the Texas
				Administrative Code (the "CPA Protest Rules").
(b) Bid Protests by Vendors Related to a
				Solicitation or Contract Award. A protest vendor may file a protest with the
				Director of Staff Services.
(c)
				Filing requirements.
(1) To be considered, a
				protest must be submitted in writing, signed by an authorized representative of
				the protesting vendor, and delivered to the Director of Staff Services in the
				time period specified §20.535 of the CPA Protest Rules.
(2) In addition to the filing requirements of
				§20.535 of the CPA Protest Rules, the protest must contain a statement
				that copies of the protest have been delivered to all other identifiable
				interested parties. The protesting vendor is required to and is responsible for
				mailing or delivering copies of the protest to all other identifiable
				interested parties. Upon request, the Director of Staff Services will provide
				the protesting vendor with a list of interested parties as reflected by the
				records of the Agency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.1 - Policy

Current through Reg. 49, No. 28; July 12, 2024
(a) It is the
				Board's policy for the Agency to:
(1) review,
				prioritize and investigate all complaints received in a timely
				manner;
(2) ensure conduct found to
				be in violation of the Act or a Board rule is brought to a fair, just, and
				equitable resolution; and
(3)
				protect confidential, investigatory, and inspection information while
				maximizing Agency transparency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this chapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise.
(1) Complaint--a written
				communication submitted to the Agency by a person that alleges misconduct by an
				individual or entity believed to be engaged in an activity that is regulated by
				the Agency.
(2) Complainant--person
				filing a complaint with the Securities Commissioner.
(3) Jurisdictional authority--conduct
				regulated by the Agency as provided for in the Act and Board rules.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.3 - Filing Complaints

Current through Reg. 49, No. 28; July 12, 2024
(a) A complaint
				against an individual or entity subject to the Agency's jurisdictional
				authority may be filed by a member of the public or by an individual or entity
				regulated by the Agency.
(b) A
				complaint form promulgated by the Agency is available on the Agency website
				(
www.ssb.texas.gov
). An electronic or
				print version of the complaint form may also be obtained by contacting any
				office of the Agency and requesting one.
(c) A complaint must be made in writing to
				the Securities Commissioner.
(1) A complaint
				using the Agency's complaint form must be submitted in person, by mail or
				facsimile to an Agency office, or electronically to the email address for
				complaints identified on the Agency's website (
www.ssb.texas.gov
).
(2) A complaint made by letter or other
				written format must be submitted electronically through the email address for
				complaints identified on the Agency's website (
www.ssb.texas.gov
).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.4 - Processing of Complaints

Current through Reg. 49, No. 28; July 12, 2024
(a)
				Agency staff shall promptly review complaints to determine if the Agency has
				jurisdictional authority to investigate the complaint. Agency staff may contact
				the complainant or other persons for additional information.
(b) When the complaint relates to an
				individual or entity registered with the Securities Commissioner, the
				Inspections and Compliance Division, with assistance from the Enforcement
				Division as appropriate, will review the allegations in the
				complaint.
(c) When the complaint
				relates to an individual or entity that is not registered with the Securities
				Commissioner, the Enforcement Division, with assistance from the Inspections
				and Compliance Division as appropriate, will review the allegations in the
				complaint.
(d) Upon determination
				that the complaint contains the information required by § 102.3(d) of this
				chapter (relating to Filing Complaints), the complaint will be entered in the
				complaint tracking system of the Agency division leading the review and
				investigation.
(e) The complainant
				will be notified of the Agency's receipt of the complaint and be given the name
				and contact information for an Agency staff member assigned the
				complaint.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.5 - Prioritization of Complaint Investigations

Current through Reg. 49, No. 28; July 12, 2024
The following factors will be considered by Agency staff in
				  prioritizing complaints for further investigation:
(1) the ongoing nature of the underlying
				alleged conduct;
(2) the amount and
				degree of financial harm presented by the alleged conduct;
(3) extent to which the alleged conduct
				relates to senior or vulnerable victims;
(4) the risk associated with the type of
				investment product underlying the alleged conduct;
(5) the seriousness, nature, circumstances,
				extent and persistence of the alleged conduct;
(6) the history of previous misconduct by the
				individual or entity alleged to be responsible for the underlying alleged
				conduct;
(7) the availability of
				Agency resources to pursue investigation of the alleged conduct;
(8) the extent another governmental agency or
				regulatory body is better positioned to investigate the alleged conduct;
				and
(9) such other matters as the
				facts and circumstances may require.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 102 - COMPLAINT PROCESS › Section 102.6 - Complaint Resolution

Current through Reg. 49, No. 28; July 12, 2024
(a) During the
				investigation of a complaint, Agency staff will make a determination on what
				further action by the Agency is appropriate under the particular facts and
				circumstances.
(b) The Division
				reviewing the complaint shall maintain a record of the summary of the
				complaint, the subject matter of the complaint, a summary of the results of the
				review or investigation of the complaint, and the disposition of the
				complaint.
(c) Agency staff shall
				consider, on a case-by-case basis, aggravating and mitigating factors, such as
				the extent and pervasiveness of financial harm, prior violative conduct,
				cooperation, and past Agency sanctions redressing similar conduct, when
				determining an appropriate resolution to a complaint.
(d) Formal Agency action taken after
				investigation of a complaint could include an administrative sanction or
				penalty, civil action, or criminal prosecution. Formal administrative sanctions
				available to the Agency include an order to cease and desist; denial of a
				registration application; suspension, revocation, or probation of a
				registration; administrative fine; and refund to a client or purchaser of
				amounts paid for a service or transaction regulated by the Agency.
(e) After review and investigation of the
				complaint, the resolution could be one or more of the following:
(1) no further action, closed;
(2) informal, non-public action to bring the
				individual or entity into compliance with applicable securities laws and
				regulations;
(3) informal,
				non-public, action to bring the individual or entity into compliance with the
				Act and Board rules through the imposition of an undertaking and/or placing
				restrictions on future securities-related activities;
(4) formal, public action by agreement or
				consent order, which may include administrative sanctions;
(5) formal, public action to initiate an
				administrative contested case at the State Office of Administrative Hearings
				(SOAH) which, after notice and opportunity for hearing, could include an order
				imposing administrative sanctions;
(6) formal, ex parte public action (emergency
				cease and desist order) to prevent immediate and irreparable public
				harm;
(7) referral to the Attorney
				General for a civil action seeking injunction, restitution, and other civil
				penalties, and/or the imposition of a receivership; or
(8) further development through a law
				enforcement investigation prior to referral to an appropriate prosecutorial
				office for criminal prosecution.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.1 - How Initiated

Current through Reg. 49, No. 28; July 12, 2024
Proceedings for the promulgation, adoption, repeal, or
				  revision of rules shall be initiated by the securities
				  commissioner.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.2 - Notice

Current through Reg. 49, No. 28; July 12, 2024
General notice of the adoption, amendment, or repeal of any
				  rule shall be given as required by law and shall be sent by U.S. mail, or by
				  email if the requestor has provided an email address, to all persons who have
				  made timely written requests for advanced notice of rulemaking proceedings.
				  However, failure to send such notice will not invalidate any actions taken or
				  rules adopted.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.3 - Opportunity To Be Heard

Current through Reg. 49, No. 28; July 12, 2024
Reasonable opportunity will be afforded all interested
				  persons to submit data, views, or arguments, orally or in writing. The
				  commissioner may use informal conferences and consultations as a means of
				  obtaining the viewpoints and advice of interested persons.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.4 - Compliance

Current through Reg. 49, No. 28; July 12, 2024
No rule hereafter adopted will be valid unless adopted in
				  substantial compliance with the rulemaking provisions of the Texas Government
				  Code, Title 10, Chapter 2001.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.5 - Petitions

Current through Reg. 49, No. 28; July 12, 2024
Pursuant to Texas Government Code, §
									RSA
				  2001.021, any interested person may petition
				  the Commissioner requesting the adoption of a rule, and within 60 days the
				  Commissioner will initiate rulemaking proceedings, or deny the petition in
				  writing, stating his or her reasons therefor. The petition must set forth the
				  following:
(1) The text of the
				proposed rule and a brief explanation thereof.
(2) A statement of the statutory or other
				authority under which the rule is proposed.
(3) A statement of the particular statute or
				statutes and sections thereof to which the proposed rule relates.
(4) A concise statement of the principal
				reasons for adoption of the rule; and the date submitted and by whom.
(5) If available to the petitioner(s), the
				following analyses related to the adoption of the rule:
(A) an analysis supporting the draft
				government growth impact statement required by Texas Government Code, §
										RSA
				2001.0221;
(B) an analysis supporting the economic
				impact statement required by Texas Government Code, §
										RSA
				2006.002;
(C) an analysis supporting the regulatory
				flexibility analysis required by Texas Government Code, §
										RSA
				2006.002;
(D) an analysis supporting the takings impact
				assessment required by Texas Government Code, §
										RSA
				2007.043;
(E) an analysis supporting the local
				employment impact statement required by Texas Government Code, §
										RSA
				2001.024(a)(6);
(F) an analysis supporting the cost-benefit
				analysis required by Texas Government Code, §
										RSA
				2001.024(a)(5);
(G) an analysis supporting the fiscal note
				required by Texas Government Code, §
										RSA
				2001.024(a)(4);
				and
(H) if Texas Government Code,
				§
										RSA
				2001.0045(b) would apply to
				the adopted rule:
(i) identify the proposed
				repeal or amendment that is being suggested to offset costs of the adopted
				rule; and
(ii) explain the
				reasoning behind the estimate of the costs that would be offset by the proposed
				repeal or amendment.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 103 - RULEMAKING PROCEDURE › Section 103.6 - Negotiated Rulemaking

Current through Reg. 49, No. 28; July 12, 2024
(a) Policy. It is
				the Board's policy to encourage the use of negotiated rulemaking in appropriate
				situations. When the Securities Commissioner finds that a rule to be proposed
				is likely to be complex, controversial, or affect disparate groups, the
				Commissioner may propose to engage in negotiated rulemaking in accordance with
				the Government Code, Chapter 2008.
(b) Appointment and duties of convener.
(1) The Deputy Securities Commissioner or the
				Deputy's designee shall serve as the negotiated rulemaking convener.
(2) The convener shall assist in identifying
				persons who are likely to be affected by a proposed rule, including those who
				oppose issuance of a rule. The convener shall discuss the items listed in
				Government Code, §2008.052(c), with those persons or their
				representatives.
(3) The convener
				shall then recommend to the Commissioner whether negotiated rulemaking is a
				feasible method to develop the proposed rule and shall report on the relevant
				considerations, including those listed in §2008.052(d).
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.1 - Scope

Current through Reg. 49, No. 28; July 12, 2024
These rules of procedure are generally applicable to the
				  review of applications and the agency's decision whether to grant, deny, or
				  allow withdrawal of applications.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.2 - Purpose

Current through Reg. 49, No. 28; July 12, 2024
Sections
				  104.2-
				  104.6 of this title (relating to
				  Purpose, Definition of Days, Registration of Securities--Review of
				  Applications, Registration of Dealers and Investment Advisers--Review of
				  Applications, and Exceeding the Time Periods, respectively) are intended to
				  implement the provisions of Texas Government Code, Chapter 2005. They are not
				  intended to supersede any substantive requirement of the Texas Securities Act
				  or Board rules. If a provision under one of these sections would cause such a
				  conflict, the provision will not be given effect under the particular
				  circumstances giving rise to the conflict.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.3 - Definition of Days

Current through Reg. 49, No. 28; July 12, 2024
For purposes of §§
									104.2-
				  104.6 of this title (relating to
				  Purpose, Definition of Days, Registration of Securities--Review of
				  Applications, Registration of Dealers and Investment Advisers--Review of
				  Applications, and Exceeding the Time Periods, respectively) "days" means each
				  calendar day without any exclusions.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.4 - Registration of Securities - Review of Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) Within seven days of receipt by the
				Agency of an application to register securities, if the application does not
				contain all required information, the Registration Division will send a written
				deficiency letter to the applicant setting forth a list of items or exhibits
				that have not been filed and that, pursuant to requirements of the Texas
				Securities Act or Board rules, must be filed with the Agency.
(b) Within 45 days of receipt by the Agency
				of all requested items and exhibits necessary in order to analyze the offering,
				the Registration Division shall review the application and shall send a written
				initial comment letter setting forth deviations from the substantive
				requirements of the Act or Board rules relating to the registration of
				securities. This process may be repeated if the applicant suggests that
				alternatives be considered, or the applicant's response does not resolve
				substantive issues.
(c) Written
				communications between the Registration Division and the applicant may be
				transmitted by facsimile, email, U.S. mail, or other more timely means of
				communication.
(d) An application
				is complete and accepted for filing upon receipt by the Agency of the
				following:
(1) all items and exhibits
				required to be filed with the Agency as set forth in paragraphs (a)-(c) of this
				section; and
(2) complete responses
				to all comments raised by the division staff pursuant to subsections (b) and
				(c) of this section.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.5 - Registration of Dealers and Investment Advisers-Review of Applications

Current through Reg. 49, No. 28; July 12, 2024
(a) Within 14 days
				of receipt by the Agency of an application and a fee that is sufficient for
				registration as a dealer or investment adviser, the Registration Division shall
				send a written deficiency letter to the applicant setting forth a list of items
				or exhibits that either have not been filed or that contain errors or
				omissions. If the applicant is filing through the Central Registration
				Depository (CRD) or the Investment Adviser Registration Depository (IARD),
				deficiency corrections of a procedural, non-disciplinary nature will be handled
				by the CRD or IARD.
(1) If an insufficient
				fee is submitted with the application, the fee will be returned to the
				applicant along with immediate notification as to the correct amount
				owed.
(2) The application will be
				held in abeyance until the correct fee is received by the Agency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.6 - Exceeding the Time Periods

Current through Reg. 49, No. 28; July 12, 2024
(a) The Agency may
				exceed the time periods set forth in §
									104.4 or §
									104.5 of this title (relating to
				Registration of Securities--Review of Applications and Registration of Dealers
				and Investment Advisers--Review of Applications, respectively) if:
(1) the number of permits and registration
				authorizations exceeds by 15% or more the number processed in the same calendar
				quarter of the preceding year;
(2)
				the Securities and Exchange Commission, CRD, IARD, or another public or private
				entity, including the applicant itself, causes the delay;
(3) the applicant requests delay;
				or
(4) other conditions exist that
				give the Agency good cause for exceeding the established time
				periods.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 104 - PROCEDURE FOR REVIEW OF APPLICATIONS › Section 104.7 - Preliminary Evaluation of License Eligibility

Current through Reg. 49, No. 28; July 12, 2024
(a) Request for criminal history evaluation
				letter.
(1) A person may request the Agency
				issue a criminal history evaluation letter regarding the person's eligibility
				for a license issued by the Agency if the person:
(A) is enrolled or planning to enroll in an
				educational program that prepares a person for an initial license or is
				planning to take an examination for an initial license; and
(B) has reason to believe that the person is
				ineligible for the license due to a conviction or deferred adjudication for a
				felony or misdemeanor offense.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.2 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
(a) The following
				words and terms, when used in this chapter, shall have the same meaning as set
				forth in the Administrative Procedure Act, Government Code, Chapter 2001 (the
				"APA"), unless the context clearly indicates otherwise:
(1) Contested case;
(2) License;
(3) Licensing;
(4) Party;
(5) Person; and
(6) State agency.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.3 - Computation of Time

Current through Reg. 49, No. 28; July 12, 2024
The method for computing any period of time prescribed or
				  allowed by this chapter shall be in accordance with the SOAH Rules of
				  Procedure.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.4 - Opportunity for Hearing

Current through Reg. 49, No. 28; July 12, 2024
(a) An applicant
				taking exception to the failure or refusal of the Securities Commissioner to
				register the applicant as a dealer, agent, investment adviser, or investment
				adviser representative under the Act, §14, §15, or §18, or to
				the failure or refusal of the Commissioner to register securities of the
				applicant or to issue a permit to the applicant under the Act, §7 or
				§10, may request a hearing pursuant to the Act, §24, by filing a
				written request with the Commissioner.
(b) Except when an emergency order has been
				issued pursuant to the Act, §23-2, each party in a contested case is
				entitled to an opportunity for hearing after reasonable notice of not less than
				10 days and to respond and present evidence and argument on each issue involved
				in the case.
(c) Such hearings
				shall be open to the public in accordance with the Open Meetings Act, Texas
				Government Code, Chapter 551, except as may be required by this
				chapter.
(d) In a contested case
				filed at SOAH, SOAH Rules of Procedure, the APA, and the Board rules shall
				apply.
(e) Procedure in a contested
				case is governed by the law in effect on the date of the filing of the Notice
				of Hearing.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.5 - Contents of Notice of Hearing

Current through Reg. 49, No. 28; July 12, 2024
(a)
				The contents of a notice of hearing shall comport with the requirements of the
				APA, the SOAH Rules of Procedure, and Board rules.
(1) If the notice of hearing provides for at
				least 30 days notice to a party prior to the hearing in a contested case, such
				a notice of hearing shall include the following disclosure language set forth
				in capital letters and 12-point boldface type: "IF YOU DO NOT FILE A WRITTEN
				ANSWER OR OTHER WRITTEN RESPONSIVE PLEADING TO THIS NOTICE OF HEARING ON OR
				BEFORE THE 20TH DAY AFTER THE DATE ON WHICH THIS NOTICE WAS MAILED TO YOU OR
				PERSONALLY SERVED ON YOU, THE FACTUAL ALLEGATIONS IN THIS NOTICE COULD BE
				DEEMED ADMITTED, AND THE SECURITIES COMMISSIONER MAY DISPOSE OF THIS CASE
				WITHOUT A HEARING AND MAY GRANT THE RELIEF SOUGHT IN THIS NOTICE. THE RESPONSE
				MUST BE FILED IN AUSTIN, TEXAS WITH THE SECURITIES COMMISSIONER AND THE STATE
				OFFICE OF ADMINISTRATIVE HEARINGS, AND ALSO SERVED ON THE STAFF OF THE STATE
				SECURITIES BOARD. IF YOU FAIL TO ATTEND THE HEARING, EVEN IF A WRITTEN ANSWER
				OR OTHER RESPONSIVE PLEADING HAS BEEN FILED AND SERVED, THE FACTUAL ALLEGATIONS
				IN THIS NOTICE COULD BE DEEMED ADMITTED, AND THE SECURITIES COMMISSIONER MAY
				DISPOSE OF THIS CASE WITHOUT A HEARING AND MAY GRANT THE RELIEF SOUGHT IN THIS
				NOTICE."
(2) In all other
				circumstances, the notice of hearing shall include the following disclosure
				language set forth in capital letters and 12-point boldface type: "IF YOU FAIL
				TO ATTEND THE HEARING, THE FACTUAL ALLEGATIONS IN THIS NOTICE COULD BE DEEMED
				ADMITTED, AND THE SECURITIES COMMISSIONER MAY DISPOSE OF THIS CASE WITHOUT A
				HEARING AND MAY GRANT THE RELIEF SOUGHT IN THIS NOTICE."
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.6 - Service

Current through Reg. 49, No. 28; July 12, 2024
(a) Service of
				notice of hearing. A notice of hearing shall be served by personal delivery or
				by registered or certified mail, return receipt requested, to the person's last
				known address.
(b) Service of
				orders.
(1) All emergency orders issued
				pursuant to the Act, §23-2, shall be sent in the manner prescribed
				therein.
(2) All other orders shall
				be served in the manner prescribed by the APA.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.7 - Written Response to Notice of Hearing

Current through Reg. 49, No. 28; July 12, 2024
(a) If
				the notice of hearing was mailed to or personally served on a party at least 30
				days prior to the hearing in a contested case, the respondent shall file with
				both the Securities Commissioner and SOAH, and also serve the Staff with, a
				written answer or other responsive pleading to the matters asserted in the
				notice of hearing no later than the 20th day after the date the notice was
				mailed to or personally served on the respondent.
(b) In all other circumstances, no answer
				need be filed, and all allegations will be deemed to be denied by the party if
				the party attends the hearing. At the time of such hearing the Administrative
				Law Judge shall, on motion of the Staff or on its own motion, inquire of a
				party which, if any, of the matters pled in the notice are contested by the
				party.
(c) A general denial of
				matters pled by the Staff shall be sufficient to put the same in issue. When
				the respondent has pled a general denial, and the Staff afterward amends its
				pleadings, the general denial shall be presumed to extend to all matters
				subsequently alleged by the Staff.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.8 - Copies to Securities Commissioner's Representative

Current through Reg. 49, No. 28; July 12, 2024
Upon the filing of a notice of hearing, the parties shall
				  file with the Securities Commissioner, by delivering same to the Commissioner's
				  Representative, a copy of all documents, other than business records and
				  transcripts, filed with SOAH contemporaneously with such filing. SOAH shall
				  likewise provide the Commissioner's Representative with copies of all documents
				  issued by the Administrative Law Judge.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.9 - Informal Disposition

Current through Reg. 49, No. 28; July 12, 2024
An informal disposition of a contested case may be made by
				  the Securities Commissioner by stipulation of the parties, agreed settlement,
				  consent order, or default, without further proceedings by
				  SOAH.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.10 - Default

Current through Reg. 49, No. 28; July 12, 2024
(a) The Securities
				Commissioner may make an informal disposition of the contested case by default
				by issuing an order in which the relief requested in the notice of hearing is
				granted and the matters set forth in the notice are deemed admitted as true
				upon proof to the Commissioner that the notice was mailed to or personally
				served on a respondent in accordance with §
									RSA 105.6 of this title
				(relating to Service) and that such respondent has failed to:
(1) file a written response as provided in
				§
										RSA
				105.7 of this title (relating to Written
				Response to Notice of Hearing); or
(2) appear in person or through an authorized
				representative on the day and at the time set for the hearing of the case,
				whether or not a written response has been filed.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.11 - Burden of Proof

Current through Reg. 49, No. 28; July 12, 2024
The Staff will assume the burden of proving a prima facie
				  case by a preponderance of the evidence based upon reasonable inferences drawn
				  from the evidence presented, except that the burden of proof of an exemption
				  shall be upon the party claiming the same.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.12 - Subpoenas and Depositions

Current through Reg. 49, No. 28; July 12, 2024
(a) In general.
				Except when in conflict with the provisions of the Act, including §28, and
				Board rules, such as §
									RSA 127.1 of this
				title (relating to Enforcement), subpoenas and depositions shall be
				administered in the manner prescribed by the APA and the SOAH Rules of
				Procedure.
(b) Pre-contested case.
				When the Staff anticipates the commencement of a contested case and determines
				that it is necessary to perpetuate testimony to prevent a failure or delay of
				justice due to the risk of unavailability of the testimony after the action is
				commenced, such as with the acute illness of a potential witness or receipt of
				information that the potential witness intends to leave the subpoena
				jurisdiction of the Commissioner, the Staff may file a request with the
				Commissioner for a commission to take a deposition as set forth in the APA,
				§2001.094.
(1) The request shall show:
(A) the Staff anticipates the commencement of
				a contested case;
(B) the subject
				matter of the anticipated action and the jurisdiction therein;
(C) the names and addresses, if known, of the
				persons expected to be interested adversely to the Staff; and
(D) the names and addresses of the persons to
				be examined, the substance of the testimony which the Staff expects to elicit
				from each, and the reasons why the testimony is necessary to prevent a failure
				or delay of justice.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.13 - Assessment of Hearing Costs

Current through Reg. 49, No. 28; July 12, 2024
The State Securities Board may pay the costs charged by a
				  court reporting service in transcribing a hearing in a contested case or the
				  Securities Commissioner may assess the cost to one or more
				  parties.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.14 - Proposal for Decision

Current through Reg. 49, No. 28; July 12, 2024
(a) At the
				conclusion of a hearing in a contested case, the Administrative Law Judge
				assigned to hear the case at SOAH will issue orders:
(1) setting appropriate deadlines for the
				filing of the parties' Proposed Findings of Fact and Conclusions of Law in the
				case, if any, and the responses thereto, if any; and
(2) setting appropriate deadlines for the
				filing of exceptions, if any, to the Administrative Law Judge's Proposal for
				Decision, and replies thereto, if any.
Texas Administrative Code › Title 7 - BANKING AND SECURITIES › Part 7 - STATE SECURITIES BOARD › Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES › Section 105.15 - Orders Issued by Securities Commissioner

Current through Reg. 49, No. 28; July 12, 2024
(a) When SOAH loses jurisdiction over the
				case as prescribed in §
									RSA 105.14
				of this title (relating to Proposal for Decision), the complete transcript and
				record of the case, and the Proposal for Decision shall be sent directly to the
				Securities Commissioner.
(b) The
				Commissioner may change a finding of fact or conclusion of law made by the
				Administrative Law Judge, or may vacate or modify an order issued by the
				Administrative Law Judge only on grounds set forth in the APA. The Commissioner
				shall state in writing the reason or basis for such a change.