TITLE 7. BANKING AND SECURITIES

PART 7. STATE SECURITIES BOARD

CHAPTER 101. GENERAL ADMINISTRATION
7 TAC §101.4

The Texas State Securities Board adopts an amendment to §101.4, concerning examination of records, without changes to the proposed text as published in the February 13, 2015, issue of the Texas Register (40 TexReg 666). The text of the rule will not be republished.

The amendment changes the name of the section to clarify that it refers to open records requests and omits references to Form 133.1, the repeal of which is also adopted. Members of the public need only make their requests for records in writing, and the form was rarely ever used. The amendment also notifies the public that requests are processed in accordance with the requirements of the Public Information Act. "Photocopying" has been replaced with "duplication" to more accurately reflect the variety of ways that records can be furnished to requestors, including in electronic format.

The Agency's requirements for and procedures related to open records requests will be accurately reflected in the Agency's rules.

No comments were received regarding adoption of the amendment.

The amendment is adopted under Texas Civil Statutes, Article 581-28-1. Section 28-1 provides the Board with the authority to adopt rules and regulations necessary to carry out and implement the provisions of the Texas Securities Act, including rules and regulations governing registration statements and applications; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes.

Cross-reference to Statute: Texas Government Code, Chapter 552.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on May 20, 2015.

TRD-201501834

John Morgan

Securities Commissioner

State Securities Board

Effective date: June 9, 2015

Proposal publication date: February 13, 2015

For further information, please call: (512) 305-8303

CHAPTER 103. RULEMAKING PROCEDURE
7 TAC §103.2, §103.4

The Texas State Securities Board adopts amendments to §103.2, concerning notice, and §103.4, concerning compliance. Section 103.2 was adopted with changes to the proposed text as published in the February 13, 2015, issue of the Texas Register (40 TexReg 667). Section 103.4 was adopted without changes to the proposed text as published in the February 13, 2015, issue of the Texas Register (40 TexReg 667) and will not be republished. The change to §103.2 specifies the methods (U.S. mail or email) for providing notice of rulemaking.

The amendment to §103.2 allows notices of rulemaking proceedings to be provided by means other than U.S. mail. The amendment to §103.4 simplifies the rule by stating generally that agency rulemaking procedure will comply with the related provisions in the Texas Government Code.

Agency procedures as they relate to rulemaking will be accurately reflected in the Agency's rules.

No comments were received regarding adoption of the amendments.

The amendments are adopted under Texas Civil Statutes, Article 581-28-1. Section 28-1 provides the Board with the authority to adopt rules and regulations necessary to carry out and implement the provisions of the Texas Securities Act, including rules and regulations governing registration statements and applications; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes.

The adopted amendments affect Texas Civil Statutes, Articles 581-2-5, 581-4.N, 581-4.P, 581-5.T, 581 7.A, 581-8, 581-12.C, 581-12-1.B, 581-13.D, 581-19.B, 581-28, 581-28-1, and 581-42.

§103.2.Notice.

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.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on May 20, 2015.

TRD-201501836

John Morgan

Securities Commissioner

State Securities Board

Effective date: June 9, 2015

Proposal publication date: February 13, 2015

For further information, please call: (512) 305-8303

CHAPTER 133. FORMS
7 TAC §133.1

The Texas State Securities Board adopts the repeal of §133.1, which adopts by reference a form concerning Texas public information request, without changes to the proposed text as published in the February 13, 2015, issue of the Texas Register (40 TexReg 667). The text of the rule will not be republished.

Members of the public need only make their requests for records in writing, and the form was rarely ever used.

An unnecessary form has been eliminated.

No comments were received regarding adoption of the repeal.

The repeal is adopted under Texas Civil Statutes, Article 581-28-1. Section 28-1 provides the Board with the authority to adopt rules and regulations necessary to carry out and implement the provisions of the Texas Securities Act, including rules and regulations governing registration statements and applications; defining terms; classifying securities, persons, and matters within its jurisdiction; and prescribing different requirements for different classes.

Cross-reference to Statute: Texas Government Code, Chapter 552.

The agency certifies that legal counsel has reviewed the adoption and found it to be a valid exercise of the agency's legal authority.

Filed with the Office of the Secretary of State on May 20, 2015.

TRD-201501835

John Morgan

Securities Commissioner

State Securities Board

Effective date: June 9, 2015

Proposal publication date: February 13, 2015

For further information, please call: (512) 305-8303