A state-chartered bank may engage in private placement transactions by acting as broker and bringing together buyers and sellers of privately placed instruments. The term "private placement transactions" means:

1. (1) making recommendations regarding the terms and timing of the transaction;
2. (2) assisting in the preparation of the financing documents;
3. (3) contacting potential institutional investors;
4. (4) arranging meetings between the issuer and potential investors; and
5. (5) assisting in subsequent negotiations involving these parties.

Source Note:The provisions of this §3.1 adopted to be effective August 19, 1985, 10 TexReg 2542; amended to be effective May 17, 1996, 21 TexReg 3929; amended to be effective September 8, 2022, 47 TexReg 5328.