1. (a) Introduction. Pursuant to the authority granted by the Texas Securities Act and the Administrative Procedure and Texas Register Act, Texas Government Code, Chapter 2001, the State Securities Board prescribes the following sections regarding the administration and implementation of the Texas Securities Act, and the procedure and practice before the Texas Securities Commissioner.
2. (b) Objective. The intent of the board is to supplant unwritten policies and guidelines with written rules, and to revise existing sections to better reflect the realities of current financial, commercial, and regulatory principles and practices.
3. (c) Delegated authority. The Board hereby delegates to the Commissioner the authority to hold hearings for adoption of sections and to make or adopt sections, and to waive the requirements thereof, as the Commissioner may, from time to time, deem appropriate. However, the Board may, as it deems appropriate, perform such of these acts and hold such hearings as are required in the rulemaking procedures or by the Texas Securities Act.
4. (d) Severability. If any provision of these sections be held invalid, such invalidity shall not affect other provisions which can be given effect without the invalid provision, and to this end the provisions of these sections are declared to be severable.

Source Note:The provisions of this §101.1 adopted to be effective January 1, 1976; amended to be effective March 14, 1999, 24 TexReg 1768.