Texas Administrative Code
|TITLE 7||BANKING AND SECURITIES|
|PART 7||STATE SECURITIES BOARD|
|CHAPTER 109||TRANSACTIONS EXEMPT FROM REGISTRATION|
|RULE §109.8||Initial Offering Completed|
The phrase "initial offering of such securities has been completed," used in section 5.P of the Act, means that any nonexempt public distribution of such securities has been completely sold to the public.
|Source Note: The provisions of this §109.8 adopted to be effective January 1, 1976.|