Sec. 4003.059. INSUFFICIENT OR FRAUDULENT REGISTRATION STATEMENT. (a) If at any time, in the commissioner's opinion, the information in a registration statement filed under this subchapter is insufficient to establish that the securities described in the statement are or were entitled to registration by notification under this subchapter, or that the registration information contains or contained false, misleading, or fraudulent facts, the commissioner may order the applicant who filed the statement to cease and desist from selling or offering for sale the securities registered or proposed to be registered by notification under this subchapter until additional information is filed with the commissioner that in the commissioner's judgment is necessary to establish that those securities are or were entitled to registration by notification under this subchapter.
(b) The provisions of Section 4007.107 relating to hearings apply to an order entered under this section.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.
Structure Texas Statutes
Subchapter B. Registration by Notification
Section 4003.051. Eligibility for Registration by Notification
Section 4003.052. Registration Statement Required
Section 4003.053. Exception to Certification Requirement for Financial Statements
Section 4003.054. Registration Procedures
Section 4003.055. Effective Date of Registration by Notification
Section 4003.056. Effect of Registration by Notification
Section 4003.057. Term of Registration
Section 4003.058. Renewal of Registration
Section 4003.059. Insufficient or Fraudulent Registration Statement