| (1) demonstrating status as a military spouse, service
member, or military veteran;
(2) to determine whether the applicant meets licensing
requirements through some alternative method;
(3) relating to prior military service, training, or
education that may be credited towards a registration requirement;
or
(4) to determine a dealer's financial responsibility
or a dealer's or agent's business repute or qualifications.
(h) Recognition out-of-state license or registration
of an individual who is either a military service member or a military
spouse as authorized by Occupations Code, §55.0041.
(1) An individual who is a resident of Texas and who
is either a military service member or a military spouse may use the
procedure set out in this subsection if the individual holds a current
registration in another jurisdiction;
(2) The period covered by this subsection is only for
the time during which the military service member is stationed at
a military installation in Texas. Notwithstanding, if the individual
is a military spouse, in the event of a divorce or other event that
affects the individual's status as a military spouse, the recognition
period covered by this subsection may continue, but for all individuals
using the procedure set out in this subsection, this recognition period
may not exceed three years from the date the individual:
(A) first becomes registered in Texas under Option
1, set out in paragraph (3) of this subsection; or
(B) first receives the confirmation from the Registration
Division under Option 2, set out in paragraph (4)(C)(ii) of this subsection.
(3) Option 1: registration in Texas with waiver or
refund of the initial registration and renewal fees. If the individual
is registered in Texas, for all or part of the period set out in paragraph
(2) of this subsection, the individual may request a waiver or refund
of a fee previously paid.
(A) The initial registration fee may be waived or refunded
by following the procedure set out in subsection (c) of this section,
including filing Form 133.19, Waiver or Refund Request by a Military
Applicant.
(B) A renewal fee may be waived by submitting Form
133.22, Waiver or Refund Request by a Military Service Member or Military
Spouse for a Renewal Fee, at the time the renewal is submitted. A
refund of a renewal fee that was paid in error, is requested by submitting
Form 133.22 within four years from the date the fee was collected
or received.
(4) Option 2: notification and authorization of activity
without registration. Upon confirmation under subparagraph (C) or
(D) of this paragraph, the individual will be considered to be notice
filed in Texas. Such notice filing expires at the end of the calendar
year.
(A) An individual may engage in activity without a
license or registration under the authority of Occupations Code, §55.0041,
and this paragraph, only for the period specified in paragraph (2)
of this subsection.
(B) An individual who becomes ineligible under Occupations
Code, §55.0041, or paragraph (1) or (2) of this subsection prior
to the three year period identified in paragraph (2) of this subsection,
must notify the Securities Commissioner of such ineligibility within
30 days and immediately cease activity until such time as the individual
is registered in the appropriate capacity to conduct activity in Texas.
(C) Before engaging in an activity requiring registration
in Texas, the individual must initially:
(i) provide notice of the individual's intent to engage
in activity in Texas and specify the type of activity by filing with
the Securities Commissioner:
(I) Form 133.23, Request for Recognition of Out-Of-State
License or Registration Pursuant to Occupations Code §55.0041;
(II) proof of the individual's residency in Texas (a
permanent change of station (PCS) order may serve as proof of residency);
and
(III) a copy of the individual's military identification
card.
(ii) receive confirmation that the Registration Division:
(I) has verified the individual's license in another
jurisdiction, which the Registration Division shall complete such
verification no later than the 30th day after the date the individual
provides the notice and submits the information required by subparagraph
(C)(i) of this paragraph; and
(II) authorizes the individual to engage in the specified
activity.
(D) To continue to conduct business in Texas without
registration under Option 2, after the expiration of the initial confirmation
under subparagraph (C)(ii) of this paragraph, the individual must
renew annually on the same schedule as renewals of registration. This
enables the Registration Division to determine that the individual
remains eligible under Occupations Code, §55.0041, to continue
to conduct securities activities in Texas without being registered.
(i) A renewal is made by submitting the same documents
identified in subparagraph (C)(i) of this paragraph.
(ii) A renewal is not effective until the individual
receives confirmation that the Registration Division:
(I) has verified the individual's license in another
jurisdiction; and
(II) authorizes the individual to engage in specified
activity.
(i) The purpose of this section is to establish procedures
authorized by Texas Occupations Code, Chapter 55, and is not intended
to modify or alter rights that may be provided under federal law.
|
| Source Note: The provisions of this §115.18 adopted to be effective June 13, 2012, 37 TexReg 4185; amended to be effective March 1, 2014, 39 TexReg 493; amended to be effective February 24, 2016, 41 TexReg 1123; amended to be effective November 12, 2019, 44 TexReg 6861; amended to be effective November 21, 2021, 46 TexReg 7780; amended to be effective April 7, 2024, 49 TexReg 2064 |
