Texas Administrative Code
Title 7 - BANKING AND SECURITIES
Part 7 - STATE SECURITIES BOARD
Chapter 139 - EXEMPTIONS BY RULE OR ORDER
Section 139.13 - Resales under SEC Rule 144 and Rule 145(d)

Universal Citation: 7 TX Admin Code ยง 139.13

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

(a) Exemption from securities registration. Offers to resell and resales of any security by the owner thereof, or any person acting on behalf of the owner, shall be exempt from the securities registration requirements of the Texas Securities Act, §7, pursuant to §5.T, if the offers to resell and resales of securities are made in compliance with either:

(1) Rule 144 promulgated by the Securities and Exchange Commission (SEC) under the Securities Act of 1933, as amended (1933 Act), as made effective in SEC Release Number 33-5223, as amended in Release Numbers 33-5307, 33-5452, 33-5452A, 33-5560, 33-5613, 33-5717, 33-5979, 33-5995, 33-6032, 33-6180, 34-16589, 33-6286, 33-6389, 33-6488, 33-6768, 33-6862, 33-7285, and 33-7390; or

(2) Rule 145(d) promulgated by the SEC under the 1933 Act as made effective in SEC Release Number 33-5316, as amended in Release Numbers 33-5932, 33-6508, 33-6578, 33-6579, 33-6611, 33-6862, and 33-7390.

(b) Dealer and agent registration. Any person (other than the owner) who acts as an agent of the owner in connection with a sale to any prospective purchaser in a transaction exempt from securities registration by virtue of this section shall be registered as either a dealer or agent under the Act, as applicable.

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