1. (a) Upon issuance of the proposal for decision by the administrative law judge assigned to the case at SOAH, the complete transcript and record of the case shall be sent directly to the Securities Commissioner.
2. (b) The Securities Commissioner may change a finding of fact or conclusion of law made by the administrative law judge, or may vacate or modify an order issued by the administrative law judge only on grounds set forth in the APA. The Commissioner shall state in writing the reason or basis for such a change.

Source Note:The provisions of this §105.16 adopted to be effective April 8, 1997, 22 TexReg 3213; amended to be effective December 6, 1998, 23 TexReg 12292.