Section 4003.002 - Permit Application To Qualify Securities For Sale(a) The commissioner may not issue a permit qualifying securities for sale required by Section 4003.001 until the issuer of the securities or a registered dealer files with the commissioner an application for the permit in the form of a statement containing the following information: (1) the name, residence, and post office address of each of the company's officers and directors;(2) the location of the company's principal office and each branch office in this state;(3) a copy of the company's certificate of formation or articles of incorporation or partnership or association and any amendments to those documents;(4) if the company is a corporation, a copy of: (A) all minutes of any proceedings of the company's directors, stockholders, or members relating to or affecting the issuance of the securities; and(B) the company's bylaws and any amendments to the bylaws;(5) if the company is a trustee, a copy of all instruments by which the trust is created and in which the trust is accepted, acknowledged, or declared;(6) a statement showing:(A) the amount of capital stock and, if there is no capital stock, the amount of capital of the issuer that is contemplated to be employed;(B) the number of shares into which the stock is divided or, if not divided into shares, what division is to be made or is contemplated;(C) the par value of each share or, if there are shares with no par value, the price at which the security is proposed to be sold; and(D) the promotional fees or commissions to be paid for the sale of the securities, including:(i) all compensation of every nature allowed to be paid to the promoters or allowed for the sale of the securities;(ii) how the compensation is to be paid, whether in cash, securities, service or otherwise, or partly of either or both;(iii) the amount of cash to be paid or securities to be issued, given, transferred, or sold to promoters for promotion or organization services and expenses; and(iv) the amount of promotion or organization services and expenses that the issuer will assume or pay in any way;(7) a copy of:(A) certificates of the stock and all other securities to be sold or offered for sale, together with application blanks for the stock and securities;(B) any contract the company proposes to make concerning the securities; and(C) any prospectus or advertisement or other description of security prepared by or for the company for distribution or publication; and(8) the statement of financial condition and income statement described by Section 4003.003.(b) The statement in an application under this section must be: (1) verified under oath by an executive officer or partner of the issuer or registered dealer filing the application; and(2) attested by the secretary or partner of the issuer or registered dealer filing the application. (V.A.C.S. Art. 581-7, Subsec. A, Subdiv. (1) (part).)Tex. Gov't. Code § 4003.002
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 1/1/2022.