Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 7 - STATE SECURITIES BOARD
Chapter 105 - RULES OF PRACTICE IN CONTESTED CASES
Section 105.18 - Board Action on Motion for Rehearing

Universal Citation: 7 TX Admin Code ยง 105.18

Current through Reg. 49, No. 38; September 20, 2024

(a) The Board may determine to act in place of the Securities Commissioner in ruling on a Motion for Rehearing filed by a party in a contested case. The decision to take such action is within the sound discretion of the Board and is not mandated by any request or motion.

(b) Upon receipt of a timely filed Motion for Rehearing in a contested case, the Commissioner shall provide a copy of the Motion to each member of the Board. Thereafter, the Commissioner shall provide to each member of the Board any response filed by a party to the proceeding in support of, or opposition to, the Motion for Rehearing.

(c) If requested by a member of the Board, a meeting of the Board shall be held for the purpose of determining whether the Board should act in place of the Commissioner in ruling on the Motion for Rehearing and, if so, whether the order of the Commissioner should be vacated or modified or a new hearing should be held. The meeting and all deliberations by the Board on the Motion for Rehearing shall be conducted in accordance with the Texas Open Meetings Act.

(d) The Board may change a finding of fact or conclusion of law, or vacate or modify an order only as permitted by the APA.

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