| (a) Applicability.
(1) This section shall apply to the Registration by
Coordination in Texas of securities registered with the SEC for offer
and sale on a delayed or continuous basis under SEC Rule 415 (17 CFR §230.415,
as amended).
(2) Each series or takedown requires separate registration
in Texas, except in the following cases:
(A) where there is disclosure in the prospectus that
neither the security to be offered nor the selling method to be used
may be varied from one series or takedown to the next; or
(B) as provided in subsection (b) of this section.
(3) Where appropriate, the statements of policy in §113.14(b)
of this title (relating to Statements of Policy) and other provisions
of this chapter will be applied.
(b) Certain debt offerings by substantial issuers.
(1) This subsection (b) applies to the registration
of debt securities of issuers eligible to use SEC Form S-3 (17 CFR §239.13,
as amended), to register debt securities with the SEC under SEC Rule
415.
(2) Separate registration of each series or takedown
of debt securities of such an issuer is not required if the applicant
(and the issuer if the applicant is other than the issuer) undertakes
that all of the following conditions will be met:
(A) only the type of debt security that is specifically
denominated and described in the prospectus supplement or prospectus
amendment filed with the application to register securities in Texas
will be sold in each takedown or series for which the registration
is sought;
(B) all of the debt securities will be subject to and
issued under the same indenture;
(C) the maturity of the securities will not be less
than a specified length of time nor more than a specified length of
time from the date of issue, and the interest rate will be within
a specified range unless the Texas permit is first amended to permit
interest rates differing from such maximum and minimum.
(3) The permit issued upon registration of debt securities
pursuant to paragraph (2)(A) - (C) of this subsection shall incorporate
the relevant terms of the required undertaking.
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| Source Note: The provisions of this §113.11 adopted to be effective August 8, 1984, 9 TexReg 4075; amended to be effective December 2, 1997, 22 TexReg 11666; amended to be effective December 6, 1998, 23 TexReg 12293; amended to be effective November 7, 1999, 24 TexReg 9608; amended to be effective April 3, 2012, 37 TexReg 2166; amended to be effective November 12, 2019, 44 TexReg 6858; amended to be effective April 7, 2024, 49 TexReg 2062 |
