Sec. 501.203. SECURITIES COMMISSIONER PERMIT TO SELL SECURITIES REQUIRED. A corporation may not sell or offer for sale bonds or other securities until the securities commissioner grants a permit authorizing the corporation to offer and sell the bonds or other securities under the registration provisions of The Securities Act (Title 12, Government Code), except as exempted from registration by rule or order of the State Securities Board. Appeal from an adverse decision of the securities commissioner or the State Securities Board is under the administrative procedure law, Chapter 2001, Government Code. The substantial evidence rule applies in an appeal under this subsection.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.37, eff. January 1, 2022.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 501 - Provisions Governing Development Corporations
Subchapter E. Corporate Powers and Limitations Relating to Bonds
Section 501.201. Authority to Issue Bonds
Section 501.203. Securities Commissioner Permit to Sell Securities Required
Section 501.204. Authorizing Unit's Approval of Bonds
Section 501.205. Bond Counsel and Financial Advisors
Section 501.206. Money Used to Pay Bonds
Section 501.207. Bonds Not Debt of State or Authorizing Unit
Section 501.208. Bond Security; Default
Section 501.209. Trust Agreement
Section 501.210. Financial Assurance or Responsibility Requirements for Certain Projects
Section 501.211. Use of Bond Proceeds
Section 501.212. Interim Bonds