Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 7 - STATE SECURITIES BOARD
Chapter 113 - REGISTRATION OF SECURITIES
Section 113.4 - Application for Registration

(1) Except as provided in paragraph (2) of this subsection, all applications to register securities issued by an issuer which is organized under the laws of any other state, territory, or government, or domiciled in any state other than Texas, must include with the application a written consent to service of process duly executed by an authorized agent of the issuer appointing the Securities Commissioner irrevocably its true and lawful attorney upon whom process in any action or proceeding against such issuer arising out of any transaction subject to the Texas Securities Act may be served with the same effect as if such issuer were organized or created under the laws of Texas and had been lawfully served with process herein.

(2) The consent to service of process required under paragraph (1) of this subsection is not required when the application for registration is filed by a registered dealer acting as a principal in a firm commitment underwriting.

(1) An application for registration of securities may be declared abandoned if the applicant fails to substantively respond within 30 days to a letter indicating that failure to respond will result in abandonment, which letter will be sent no sooner than 30 days after the last substantive request letter regarding the application to which there has been no reply.

(2) Except for good cause shown, the application for registration of securities that fails to meet registration requirements within one year of the filing date of the application will expire and become null and void. A copy of this rule will be provided to an applicant at least 60 days prior to the expiration of the application.

(1) An offeror who sells securities in this state in excess of the amount of securities registered may take the actions described in and pay the fee or fees, as applicable, as required under and prescribed by the Act, §4006.151(a).

(2) Registration of the excess securities, if granted, shall be effective as provided in the Act, §4006.151(b).

(3) As an alternative to paragraph (1) of this subsection, the offeror may issue letters of rescission to persons who bought excess securities and include a statement in the prospectus admitting the error, or show sales of unregistered securities as a contingent liability.