These rules of practice are applicable to contested cases under the Texas Securities Act (the "Act"). A "contested case" means a proceeding in which the legal rights, duties, or privileges of a party are to be determined after an opportunity for adjudicative hearing. A "party" means an applicant for registration as a dealer or salesman under the Act, §15 or §18, applicant for registration of securities under the Act, §7, or a person named in an administrative action taken, or proposed to be taken by the Securities Commissioner. In a contested case, each party is entitled to an opportunity for hearing after reasonable notice of not less than 30 days and to respond and present evidence and argument on each issue involved in the case. In the case of a hearing called pursuant to the Act, §23.A, however, notice given less than 30 days, but not less than 15 days, will be deemed sufficient. Such hearings shall be open to the public in accordance with the Public Information Act, Texas Government Code, Chapter 551, and conducted in accordance with the Administrative Procedure Act ("APA"), Texas Government Code, Chapter 2001, except as may be required by this chapter. In a contested case filed at the State Office of Administrative Hearings ("SOAH"), the procedural rules of SOAH, described in 1 TAC Chapter 155 (Rules of Procedures), the APA, and Board rules shall apply. Procedure in a contested case is governed by the law in effect on the date of the filing of the Notice of Hearing.

Source Note:The provisions of this §105.1 adopted to be effective April 8, 1997, 22 TexReg 3213; amended to be effective August 24, 1998, 23 TexReg 8667.