Section 101.7 - References to the Texas Securities Act in Board Rules(a) Transition. The Securities Act, Tex. Rev. Civ. Stat. Ann. art. 581-1 through 581-45, effective through December 31, 2021, will be replaced by the nonsubstantive codification of that Act, effective January 1, 2022. The codification is located in Title 12 of the Texas Government Code, Chapters 4001 through 4008. Because of the extensive reorganization of the Securities Act, a reader may find it helpful to compare the source law (Civil Statutes) with the revised law (Government Code) and refer to a disposition table that is available on the Agency's website.(b) References and citations to the Act (Civil Statutes). A Board Rule that references or cites the Texas Securities Act, as set out in the Civil Statutes, is also a reference or citation to the equivalent provision in the codified Securities Act.(c) Preservation of existing requirements, obligations, or duties. When an existing Board Rule is changed to update a reference or citation from the Civil Statutes to the codified Securities Act, that change does not invalidate or remove the requirement, obligation, or duty in the Board Rule arising prior to the effective date of the reference or citation change. A requirement, obligation, or duty accruing under a Board Rule is governed by the Board Rule as it existed on the date the action, inaction, or omission occurs.7 Tex. Admin. Code § 101.7
Adopted by Texas Register, Volume 46, Number 46, November 12, 2021, TexReg 7779, eff. 11/21/2021