TITLE 7. BANKING AND SECURITIES

PART 7. STATE SECURITIES BOARD

CHAPTER 115. SECURITIES DEALERS AND AGENTS
7 TAC §115.18

The Texas State Securities Board adopts an amendment to §115.18, concerning special application provisions available to a military spouse, military service member, or military veteran, without changes to the proposed text as published in the October 4, 2013, issue of the Texas Register (38 TexReg 6780).

The amendment implements Senate Bill 162 requiring licensing agencies to provide an additional alternative licensing procedure for military spouses and new alternative procedures for military service members and veterans seeking a registration or license in Texas. A related form is being concurrently adopted as is a comparable amendment for investment adviser and investment adviser representative applications. The amendment takes effect March 1, 2014, and applies to applications filed on or after that date.

A military spouse already licensed in another jurisdiction can request special consideration when applying for registration in Texas and a military service member or veteran can receive credit for comparable military service, training or education when applying for a Texas registration.

No comments were received regarding adoption of the amendment.

The amendment is adopted under Texas Civil Statutes, Article 581-28-1 and Chapter 55 of the Texas Occupations Code. 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. Chapter 55 of the Texas Occupations Code authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria.

The adopted amendment affects Texas Civil Statutes, Articles 581-12, 581-13, 581-14, 581-15, and 581-18.

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 January 16, 2014.

TRD-201400160

John Morgan

Securities Commissioner

State Securities Board

Effective date: March 1, 2014

Proposal publication date: October 4, 2013

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

CHAPTER 116.  INVESTMENT ADVISERS AND INVESTMENT ADVISER REPRESENTATIVES
7 TAC §116.18

The Texas State Securities Board adopts an amendment to §116.18, concerning special application provisions available to a military spouse, military service member, or military veteran, without changes to the proposed text as published in the October 4, 2013, issue of the Texas Register (38 TexReg 6782).

The amendment implements Senate Bill 162 requiring licensing agencies to provide an additional alternative licensing procedure for military spouses and new alternative procedures for military service members and veterans seeking a registration or license in Texas. A related form is being concurrently adopted as is a comparable amendment for dealer and agent applications. The amendment takes effect March 1, 2014, and applies to applications filed on or after that date.

A military spouse already licensed in another jurisdiction can request special consideration when applying for registration in Texas and a military service member or veteran can receive credit for comparable military service, training or education when applying for a Texas registration.

No comments were received regarding adoption of the amendment.

The amendment is adopted under Texas Civil Statutes, Article 581-28-1 and Chapter 55 of the Texas Occupations Code. 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. Chapter 55 of the Texas Occupations Code authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria.

The adopted amendment affects Texas Civil Statutes, Articles 581-12, 581-13, 581-14, 581-15, and 581-18.

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 January 16, 2014.

TRD-201400161

John Morgan

Securities Commissioner

State Securities Board

Effective date: March 1, 2014

Proposal publication date: October 4, 2013

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

CHAPTER 133.  FORMS
7 TAC §133.4

The Texas State Securities Board adopts the repeal of §133.4, which adopts by reference a form concerning military spouse request for expedited review, without changes to the proposal as published in the October 4, 2013, issue of the Texas Register (38 TexReg 6785).

The repeal allows a new form to be adopted.

An outdated 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 and Chapter 55 of the Texas Occupations Code. 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. Chapter 55 of the Texas Occupations Code authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria.

The adopted repeal affects Texas Civil Statutes, Articles 581-12, 581-13, 581-14, 581-15, and 581-18.

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 January 16, 2014.

TRD-201400162

John Morgan

Securities Commissioner

State Securities Board

Effective date: March 1, 2014

Proposal publication date: October 4, 2013

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

7 TAC §133.4

The Texas State Securities Board adopts new §133.4, which adopts by reference a form concerning request for special consideration of a registration application by a military spouse, military service member, or military veteran, without changes to the proposed text as published in the October 4, 2013, issue of the Texas Register (38 TexReg 6785).

The form allows a military spouse already licensed in another jurisdiction and a military service member or veteran to request special consideration or credit for comparable military service, training or education pursuant to §115.18 or §116.18, which are being concurrently amended. Existing §133.4 is being concurrently repealed. The new form takes effect March 1, 2014, and applies to applications filed on or after that date.

A military spouse already licensed in another jurisdiction and a military service member or veteran can complete the form to request special consideration or credit pursuant to §115.18 or §116.18.

No comments were received regarding adoption of the new rule.

The new rule is adopted under Texas Civil Statutes, Article 581-28-1 and Chapter 55 of the Texas Occupations Code. 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. Chapter 55 of the Texas Occupations Code authorizes the agency to adopt rules for licensure or registration of a person who is a military spouse, military service member, or military veteran who meets certain criteria.

The new rule affects Texas Civil Statutes, Articles 581-12, 581-13, 581-14, 581-15, and 581-18.

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 January 16, 2014.

TRD-201400163

John Morgan

Securities Commissioner

State Securities Board

Effective date: March 1, 2014

Proposal publication date: October 4, 2013

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