| (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.
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