The phrase "initial offering of the securities has been completed," used in §4005.020 of the Act, means that any nonexempt public distribution of such securities has been completely sold to the public.
7 Tex. Admin. Code § 109.8
The phrase "initial offering of the securities has been completed," used in §4005.020 of the Act, means that any nonexempt public distribution of such securities has been completely sold to the public.
7 Tex. Admin. Code § 109.8