Section 1371.154 - Financial Adviser Or Investment Adviser Qualifications And Requirements For Certain Agreements And Transactions(a) This section applies to a financial adviser or an investment adviser who advises the issuer in connection with: (1) an interest rate management agreement;(2) the execution or delivery of a public security; or(3) the investment of the public security proceeds.(b) To be eligible to be a financial adviser or an investment adviser under this subchapter, the adviser must: (1) be registered: (A) as a dealer or investment adviser in accordance with Section 4004.051, 4004.052, or 4004.302 ; (B) with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940 ( 15 U.S.C. Section 80b-1 et seq.), if the adviser is providing advice on the investment of bond proceeds and not on the issuance of a public security or an interest rate management agreement; or (C) with the United States Securities and Exchange Commission as a municipal advisor under Section 15B, Securities Exchange Act of 1934 ( 15 U.S.C. Section 78o-4 ); (2) have relevant experience in providing advice to issuers in connection with: (A) the issuance of public securities; (B) the valuation of interest rate management agreements; or (C) the investment of public security proceeds; and (3) acknowledge in writing to the issuer that in connection with the transaction for which the adviser is providing advice the adviser: (A) is acting as the issuer's agent; and (B) has complied with the requirements of this subchapter. Tex. Gov't. Code § 1371.154
Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 2.25, eff. 1/1/2022.Amended by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 575,Sec. 1, eff. 9/1/2015.Added by Acts 2007, 80th Leg., R.S., Ch. 991, Sec. 7, eff. 9/1/2007.