1. (a) Public solicitation, well-informed, and sophisticated investor. The offer for sale or sale of the securities of the issuer would not involve the use of public solicitation under the Act, §5.I, if the issuer, after having made a reasonable factual inquiry has reasonable cause to believe, and does believe, that the purchasers of the securities are sophisticated, well-informed investors or well-informed investors who have a relationship with the issuer or its principals, executive officers, or directors evincing trust between the parties (namely close business association, close friendship, or close family ties), and such purchasers acquire the securities as ultimate purchasers and not as underwriters or conduits to other beneficial owners or subsequent purchasers. The use of a registered dealer in a sale otherwise meeting the requirements of §5.I does not necessarily mean that the transaction involves the use of public solicitation. The offer without advertising to a person who did not come within the class of persons described in this subsection does not alone result in public solicitation if the issuer had a reasonable cause to believe and did believe that such person fell within the class of persons described, and that such offer was not made indiscriminately.

   1. (1) The term "well-informed" could be satisfied through the dissemination of printed material to each purchaser prior to his or her purchase, which by a fair and factual presentation discloses the plan of business, the history, and the financial statements of the issuer, including material facts necessary in order that the statements made, in the light of circumstances under which they are made, not be misleading.

   2. (2) In determining who is a sophisticated investor at least the following factors should be considered.

      1. (A) The financial capacity of the investor, to be of such proportion that the total cost of that investor's commitment in the proposed investment would not be material when compared with his total financial capacity. It may be presumed that if the investment does not exceed 20% of the investor's net worth (or joint net worth with the investor's spouse) at the time of sale that the amount invested is not material.

      2. (B) Knowledge of finance, securities, and investments, generally. This criteria may be met by the investor's purchaser representative if such purchaser representative has such knowledge, so long as such purchaser representative:

         1. (i) has no business relationship with the issuer;
         2. (ii) represents only the investor and not the issuer; and
         3. (iii) is compensated only by the investor.

      3. (C) Experience and skill in investments based on actual participation. This criteria may be met by the investor's purchaser representative if such purchaser representative has such experience and skill, so long as such purchaser representative:

         1. (i) has no business relationship with the issuer;
         2. (ii) represents only the investor and not the issuer; and
         3. (iii) is compensated only by the investor.

2. (b) Advertisements. The term "advertisements" does not include the use of the type of printed material as set out in subsection (a) of this section under the discussion of the term "well-informed." Further, the main concept to be considered in a definitional analysis of the term "advertisements," as it is used in §5.I, is the method of use of the printed material. The following circumstances, though not intended to be exclusive, will be considered in determining whether the method of use of any printed material is within the limits of §5.I:

   1. (1) limited printing of the material;
   2. (2) limited distribution of the material only to persons who the issuer, after having made a reasonable factual inquiry has reasonable cause to believe and does believe are sophisticated investors, or to persons who have a relationship with the issuer as set forth in subsection (a) of this section, or to their purchaser representatives;
   3. (3) control of the printing and distribution of the printed material;
   4. (4) recognition of the necessity of compliance with the requirements set forth in this subsection on the part of the issuer and the investor. Such recognition might consist of a printed prohibition on the front in large type that the circular is for that individual's confidential use only, and may not be reproduced; and, the use of a statement warning that any action contrary to these restrictions may place such individual and the issuer in violation of the Texas Securities Act.

3. (c) Number of persons or security holders. In computing the number of purchasers or security holders for §5.I, the following criteria shall be used.

   1. (1) There shall be counted as one purchaser or security holder any purchaser or security holder together with:

      1. (A) any relative or spouse of such purchaser or security holder who has the same home as such purchaser or security holder; any relative of such spouse who has the same home as such purchaser or security holder; any relative or spouse or relative of such spouse who is a dependent of such security holder;
      2. (B) any trust or estate in which such purchaser or security holder or any of the persons related to him as specified in subparagraph (A) or (C) of this paragraph collectively have more than 50% of the beneficial interest (excluding contingent interests); and
      3. (C) any corporation or other organization of which such purchaser or security holder or any of the persons related to him as specified in subparagraph (A) or subparagraph (B) of this paragraph collectively are the beneficial owners of more than 50% of the equity securities (excluding directors' qualified shares) or equity interest.
   2. (2) There shall be counted as one purchaser or security holder any corporation, partnership, association, joint stock company, trust, or unincorporated association, organized and existing other than for the purpose of acquiring securities of the issuer for which the exemption is claimed under §5.I.
   3. (3) Any general partner of a limited partnership who is subject to general liability for the obligations of the limited partnership and actively engages in the control and management of the business and affairs of the limited partnership or of the managing general partner of the partnership shall not be counted as a purchaser or security holder for purposes of §5.I.
   4. (4) The exemptions contained in the Act, §5.I(a) and (c), as interpreted in subsections (a)-(j) of this section may not be combined with the exemptions promulgated pursuant to the Act, §5.T, contained in subsections (k) and (l) of this section to exceed sales to 35 unaccredited investors in a 12-month period.
4. (d) Total number of security holders. The phrase "the total number of security holders of the issuer" in §5.I(a) includes all security holders of the issuer without regard to their places of residence (within or without the State of Texas) and without regard to where they acquired the securities. In determining the number of persons for purposes of §5.I(c), prior sales to persons residing outside the State of Texas and prior sales to Texas residents consummated outside the State of Texas shall be included unless such sales were made in compliance with §139.7 of this title (relating to Sale of Securities to Nonresidents).
5. (e) Other exemptions. The phrase "exempt under other provisions of this §5" in §5.I(c) means exempt under any provisions of the Act, other than §5.I(a), and subsections (k) and (l) of this section.
6. (f) Employee plan advertising. No public solicitation or advertisement under §5.I occurs by the distribution to eligible employees, officers, or directors of the employer or its subsidiaries, parents, or subsidiaries of such parents, of a prospectus filed under the Securities Act of 1933 with the Securities and Exchange Commission for the plan or any other material required or permitted to be distributed by the Securities Act of 1933 in connection with such plan when the securities under the plan are sold or distributed in a transaction otherwise meeting the requirements of §5.I(b).

7. (g) Employee plan sales. Only the employer and its participating subsidiaries, parents, or subsidiaries of such parents, if any, may offer or sell securities in connection with the employee plan without registration as dealers. An employee of the employer or participating subsidiary who aids in offering or selling such securities in connection with the employee plan is not required to be registered as an agent provided the employee meets all of the following conditions:

   1. (1) the employee was not hired for the purpose of offering or selling such securities;
   2. (2) the employee's activity involving the offer and sale of such securities is strictly incidental to his bona fide primary nonsecurities-related work duties; and
   3. (3) the employee's compensation is based solely on the performance of such other duties, i.e., the employee does not receive any compensation for offering for sale, selling, or otherwise aiding the sale of securities.
8. (h) Employee plans for counting purposes. A noncontributory employees stock ownership plan or employees stock ownership trust which holds securities of the employer company for the benefit of that company's employees shall be counted as one security holder under §5.I. Employee participants in such an employee stock ownership plan or trust will not be deemed security holders of the employer company for purposes of counting security holders under §5.I solely because of their participation in the plan or trust. However, employee participants receiving distributions of securities from the plan or trust will be deemed security holders of the employer on receipt of securities of the employer from the plan or trust.
9. (i) Notices. There is no notice filing requirement for sales made under the Act, §5.I(a), (b), or (c).

10. (j) Limitations on disposition. The issuer and any person acting on its behalf shall exercise reasonable care to assure that the purchasers are acquiring the securities as an investment. Such reasonable care should include, but not be limited to, the following:

    1. (1) making reasonable inquiry to determine if the purchaser is acquiring the securities for his or her own account or on behalf of other persons;
    2. (2) placing a legend on the certificate or other document evidencing the securities to the effect that the securities have not been registered under any securities law and setting forth or referring to the restrictions on transferability and sale of the securities;
    3. (3) issuing stop transfer instructions to the issuer's transfer agent, if any, with respect to the securities, or, if the issuer transfers its own securities, making a notation in the appropriate records of the issuer;
    4. (4) obtaining from the purchaser a signed written agreement to the effect that the securities will not be sold without registration under applicable securities laws or exemptions therefrom; and
    5. (5) prior to sale, written disclosure to each purchaser, to the effect that a purchaser of the securities must bear the economic risk of the investment for an indefinite period of time because the securities have not been registered under applicable securities laws and therefore cannot be sold unless they are subsequently registered under such securities laws or an exemption from such registration is available; and that the securities are subject to the limitations set forth in paragraphs (2)-(4) of this subsection.

11. (k) Uniform limited offering exemption. In addition to sales made under the Texas Securities Act, §5.I, the State Securities Board, pursuant to the Act, §5.T, exempts from the registration requirements of the Act, §7, any offer or sale of securities offered or sold in compliance with the Securities Act of 1933, Regulation D, Rules 230.505 and/or 230.506, including any offer or sale made exempt by application of Rule 508(a), as made effective in United States Securities and Exchange Commission Release Number 33-6389 and as amended in Release Numbers 33-6437, 33-6663, 33-6758, and 33-6825, and which satisfies the following further conditions and limitations.

    1. (1) No commission, fee, or other remuneration shall be paid or given, directly or indirectly, to any person for soliciting any prospective purchaser in this state unless such person is appropriately registered in this state. It is a defense to a violation of this subsection if the issuer sustains the burden of proof to establish that he or she did not know and in the exercise of reasonable care could not have known that the person who received a commission, fee, or other remuneration was not appropriately registered in this state.

    2. (2) No exemption under this subsection shall be available for the securities of any issuer if any of the parties described in the Securities Act of 1933, Regulation A, Rule 230.262, as made effective in United States Securities and Exchange Commission Release Number 33-6949:

       1. (A) has filed a registration statement which is subject of a currently effective registration stop order entered pursuant to any state's securities law within five years prior to the filing of the notice required under this exemption;
       2. (B) has been convicted within five years prior to the filing of the notice required under this exemption of any felony or misdemeanor in connection with the offer, purchase, or sale of any security or any felony involving fraud or deceit, including, but not limited to, forgery, embezzlement, obtaining money under false pretenses, larceny, or conspiracy to defraud;
       3. (C) is currently subject to any state administrative enforcement order or judgment entered by that state's securities administrator within five years prior to the filing of the notice required under this exemption or is subject to any state's administrative enforcement order or judgment in which fraud or deceit, including, but not limited to, making untrue statements of material facts and omitting to state material facts, was found and the order or judgment was entered within five years prior to the filing of the notice required under this exemption;
       4. (D) is subject to any state's administrative enforcement order or judgment which prohibits, denies, or revokes the use of any exemption from registration in connection with the offer, purchase, or sale of securities;
       5. (E) is currently subject to any order, judgment, or decree of any court of competent jurisdiction temporarily or preliminary restraining or enjoining, or is subject to any order, judgment, or decree of any court of competent jurisdiction, permanently restraining or enjoining, such party from engaging in or continuing any conduct or practice in connection with the purchase or sale of any security or involving the making of any false filing with the state entered within five years prior to the filing of the notice required under this exemption.
    3. (3) The prohibitions of paragraph (2)(A)-(C) and (E) of this subsection shall not apply if the person subject to the disqualification is duly licensed or registered to conduct securities-related business in the state in which the administrative order or judgment was entered against such person or if the broker/dealer employing such party is licensed or registered in this state and the Form BD filed with this state discloses the order, conviction, judgment, or decree relating to such person. No person disqualified under this subsection may act in a capacity other than that for which the person is licensed or registered.
    4. (4) Any disqualification caused by this subsection is automatically waived if the state securities administrator or Agency of the state which created the basis for disqualification determines upon a showing of good cause that it is not necessary under the circumstances that the exemption be denied. It is a defense to a violation of this subsection if the issuer sustains the burden of proof to establish that he or she did not know and in the exercise of reasonable care could not have known that a disqualification under this subsection existed.

    5. (5) The issuer shall file with the securities commissioner a notice on Form D as made effective in United States Securities and Exchange Commission Release Number 33-6663 (17 Code of Federal Regulations §239.500).

       1. (A) The notice shall be filed no later than 15 days after the receipt of consideration or the delivery of a subscription agreement by an investor in this state which results from an offer being made in reliance upon this exemption and at such other times and in the form required under Regulation D, Rule 230.503 to be filed with the Securities and Exchange Commission.
       2. (B) The notice shall contain an undertaking by the issuer to furnish to the securities commissioner, upon written request, the information furnished by the issuer to offerees.
       3. (C) Unless otherwise available, included with or in the initial notice shall be a consent to service of process.
       4. (D) Every person filing the initial notice on Form D shall pay a filing fee of 1/10 of 1.0% of the aggregate amount of securities described as being offered for sale, but in no case more than $500.

    6. (6) In all sales to nonaccredited investors in this state, one of the following conditions must be satisfied or the issuer and any person acting on its behalf shall have reasonable grounds to believe and after making reasonable inquiry shall believe that one of the following conditions is satisfied.

       1. (A) The investment is suitable for the purchaser upon the basis of the facts, if any, disclosed by the purchaser as to the purchaser's other security holdings, financial situation, and needs. For the purpose of this condition only, it may be presumed that if the investment does not exceed 10% of the investor's net worth, it is suitable.
       2. (B) The purchaser either alone or with his/her purchaser representative(s) has such knowledge and experience in financial and business matters that he/she is or they are capable of evaluating the merits and risks of the prospective investment.

    7. (7) A failure to comply with a term, condition, or requirement of paragraphs (1) and (6) of this subsection will not result in loss of the exemption from the requirements of the Act, §7, for any offer or sale to a particular individual or entity if the person relying on the exemption shows:

       1. (A) the failure to comply did not pertain to a term, condition, or requirement directly intended to protect that particular individual or entity; and
       2. (B) the failure to comply was insignificant with respect to the offering as a whole; and
       3. (C) a good faith and reasonable attempt was made to comply with all applicable terms, conditions, and requirements of paragraphs (1) and (6) of this subsection.
    8. (8) Sales made pursuant to this subsection to nonaccredited investors must comply with the disclosure requirements of subsection (a)(1) of this section.
    9. (9) Transactions which are exempt under this subsection may not be combined with offers and sales exempt under any other rule or section of the Act; however, nothing in this limitation shall act as an election. Should for any reason, the offer and sale fail to comply with all of the conditions for this exemption, the issuer may claim the availability of any other applicable exemption.
    10. (10) The securities commissioner may, by rule or order, increase the number of purchasers or waive other conditions of this exemption.
    11. (11) This limited offering transactional exemption is designed to further the objectives of compatibility with federal exemptions and uniformity among the states.
    12. (12) Nothing in this exemption is intended to or should be construed as in any way relieving issuers or persons acting on behalf of issuers from providing disclosure to prospective investors adequate to satisfy the anti-fraud provisions of the Texas Securities Act.
    13. (13) In view of the objective of this subsection and the purposes and policies underlying the Texas Securities Act, the exemption is not available to any issuer with respect to any transaction which, although in technical compliance with this subsection, is part of a plan or scheme to evade registration or the conditions or limitations explicitly stated in this subsection.
    14. (14) Nothing in this subsection is intended to relieve registered dealers, salesmen, or agents from the due diligence, suitability, or know your customer standards or any other requirements of law otherwise applicable to such registered persons.

    15. (15) Review of Form D.

        1. (A) The staff of the State Securities Board will review all notice filings made under this subsection for completeness of the information required to be filed under this section. If the staff determines that a filing is incomplete in any material respect, the staff will within five days of receipt of the form issue a letter notifying the user of the form of the deficiency.
        2. (B) A user of this section who receives notice from the staff of a deficiency in a form filed under this section may correct the deficiency within 30 days of the date that the deficiency letter is issued by the staff. If a timely correction is made, the filing shall be deemed to be complete and in compliance with the filing requirements as of the date the original filing was received.
        3. (C) In order to assist voluntary compliance within this subsection and to aid users in filing notices required under paragraph (5) of this subsection, the staff of the State Securities Board is available to answer questions about this regulation. Inquiries should be addressed to the director of securities registration.
    16. (16) If the securities comply with this subsection (except for paragraphs (1)-(6), (8), and (10) of this subsection) and are federal covered securities, as that term is defined in §107.2 of this title (relating to Definitions), the issuer should refer to Chapter 114 of this title (relating to Federal Covered Securities) for the applicable filing and fee requirements. (Issuers are advised of their obligation to comply with the dealer and agent registration requirements of the Texas Securities Act and Board rules. See §114.4(g) of this title (relating to Filings and Fees).)

12. (l) Intrastate limited offering exemption. In addition to sales made under the Securities Act, §5.I, the State Securities Board, pursuant to the Securities Act, §5.T, exempts from the registration requirements of the Securities Act, §7, any offer or sale of any securities by the issuer itself, or by a registered dealer acting as agent for the issuer provided all offers and sales are made pursuant to an offering made and completed solely within this state and all the conditions in paragraphs (1)-(11) of this subsection are satisfied.

    1. (1) The sale is made, without the use of any public solicitation or advertisements, as set forth in subsection (a) and subsection (b) of this section to:

       1. (A) not more than 35 new security holders of the issuer who meet the criteria stated in subsection (a) of this section and who became security holders during the period of 12 months ending with the date of the sale in question (subject to paragraph (7) of this subsection); and
       2. (B) other well-informed investors who are "accredited investors" as defined in paragraph (11) of this subsection. (For purposes of this subsection, the term "well informed" shall have the same meaning as set out in subsection (a)(1) of this section, and the term "5.I" in such subsection shall include sales made pursuant to this subsection.)

    2. (2) Neither the issuer nor the registered dealer (as such terms are defined in paragraph (4) of this subsection):

       1. (A) is currently subject to any administrative order issued by state or federal authorities within five years of the expected offer and sale of securities in reliance upon this exemption, which order:

          1. (i) is based upon a finding that such person has engaged in fraudulent conduct; or
          2. (ii) has the effect of enjoining such person from activities subject to federal or state statutes designed to protect investors or consumers against unlawful or deceptive practices involving securities, insurance, commodities or commodity futures, real estate, franchises, business opportunities, consumer goods, or other goods and services;
       2. (B) has been convicted within five years prior to commencement of the offering of any felony or misdemeanor of which fraud is an essential element, or which is a violation of the securities laws or regulations of this state, or of any other state of the United States, or of the United States, or any foreign jurisdiction; or which is a crime involving moral turpitude; or which is a criminal violation of statutes designed to protect consumers against unlawful practices involving insurance, securities, commodities or commodity futures, real estate, franchises, business opportunities, consumer goods, or other goods and services;
       3. (C) is subject to any order, judgment, or decree entered within five years prior to commencement of the offering by any court of competent jurisdiction which temporarily or permanently restrains or enjoins such person from engaging in or continuing any conduct or practice in connection with the purchase or sale of any security or involving any false filing with any state; or which restrains or enjoins such person from activities subject to federal or state statutes designed to protect consumers against unlawful or deceptive practices involving insurance, commodities or commodity futures, real estate, franchises, business opportunities, consumer goods, or other goods and services.
    3. (3) The prohibitions of subparagraphs (A)-(C) of paragraph (2) shall not apply if the party subject to the disqualifying order is duly licensed to conduct securities-related business in the state in which the administrative order or judgment was entered against such party or, if the order or judgment was entered by federal authorities, the prohibitions of subparagraphs (A)-(C) of paragraph (2) shall not apply if the party subject to the disqualifying order is duly licensed to conduct securities-related business by the Securities and Exchange Commission. Any disqualification caused by paragraph (2) is automatically waived if the state or federal authorities which created the basis for disqualification determine upon a showing of good cause that it is not necessary under the circumstances that the exemption be denied.
    4. (4) For purposes of paragraphs (2) and (3) only, "issuer" includes any directors, executive officers, general partners, or beneficial owners of 10% or more of any class of its equity securities (beneficial ownership meaning the power to vote or direct the vote and/or the power to dispose or direct the disposition of such securities), and "registered dealer" shall include any partners, directors, executive officers, or beneficial owner of 10% or more of any class of the equity securities of the registered dealer (beneficial ownership meaning the power to vote or direct the vote and/or the power to dispose or direct the disposition of such securities).
    5. (5) Upon application, and for good cause shown, the commissioner may waive a disqualification contained in paragraph (2).
    6. (6) The offering complies with subsections (a)-(d) and (j) of this section. However, persons who are "accredited investors" as defined in paragraph (11) of this subsection are deemed to be "sophisticated" as defined in subsection (a)(2) of this section.
    7. (7) This subsection may not be combined with the Securities Act, §5.I(a) or §5.I(c), or subsection (k) of this section to make sales to more than 35 unaccredited security holders during a 12-month period. Except for accredited investors who became security holders pursuant to this subsection, security holders who purchase in sales made in compliance with this subsection are included in the count of security holders under §5.I(a) or purchasers under §5.I(c), but this subsection may be used to exceed the numbers of security holders or purchasers allowed by such sections over an extended period of time.
    8. (8) Issuers who offer and sell securities under this subsection only through a securities dealer registered in Texas may do so without filing any notice with the State Securities Board.

    9. (9) Notice filing requirements.

       1. (A) For sales under subparagraph (1)(B) of this subsection, in whole or in part to accredited investors listed in paragraph (11)(E)-(H) of this subsection of such definition of accredited investor issuers who are not registered securities dealers and who do not sell securities by or through registered securities dealers shall file a sworn notice on Form 133.29 or a reproduction thereof not less than 10 business days before any sale claimed to be exempt under this subsection may be consummated. However, no notice is required for sales made under paragraph (1)(A) of this subsection or under paragraph (1)(B) of this subsection where the sales are made exclusively to accredited investors as defined in paragraph (11)(A)-(D) of this subsection or to entities in which all of the equity owners are accredited investors listed in paragraph (11)(A)-(D) of this subsection of such definition. The issuer may be required by the securities commissioner to give details concerning any information requested in Form 133.29 and may be required to furnish any additional information deemed necessary by the securities commissioner to determine the issuer's business repute and qualifications.
       2. (B) Every issuer filing a notice on Form 133.29 shall pay a filing fee of 1/10 of 1.0% of the aggregate amount of securities described as being offered for sale, but in no case more than $500.
    10. (10) Accredited investor security holders who purchase in sales made under this exemption are not counted as security holders under §5.I(a) or purchasers under §5.I(c) in determining whether any other sales to other security holders or purchasers are exempt under §5.I. That is to say, this exemption for sales to accredited investors is cumulative with and in addition to the exemptions contained in §5.I, and sales made under paragraph (1)(B) of this subsection are not considered in determining whether sales made in reliance on the exemptions contained in §5.I would be within the numerical limits on the number of security holders or purchasers contained in §5.I.

    11. (11) For purposes of this subsection, accredited investor shall mean any person who comes within any of the following categories, or who the issuer reasonably believes comes within any of the following categories, at the time of the sale of the securities to that person:

        1. (A) any bank as defined in the Securities Act of 1933, §3(a)(2), whether acting in its individual or fiduciary capacity; insurance company as defined in the Securities Act of 1933, §2(13); investment company registered under the Investment Company Act of 1940 or a business development company as defined in that Act, §2(a)(48); small business investment company licensed by the U.S. Small Business Administration under the Small Business Investment Act of 1958, §301(c) or (d); employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, Title I, if the investment decision is made by a plan fiduciary, as defined in such Act, §3(21), which is either a bank, insurance company, or investment adviser registered under the Investment Advisers Act of 1940, or if the employee benefit plan has total assets in excess of $5 million;
        2. (B) any private business development company as defined in the Investment Advisers Act of 1940, §202(a)(22);
        3. (C) any organization described in the Internal Revenue Code, §501(c)(3), with total assets in excess of $5 million;
        4. (D) any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer;

        5. (E) any person who purchases at least $150,000 of the securities being offered, where the purchaser's total purchase price does not exceed 20% of the purchaser's net worth at the time of sale, or joint net worth with that person's spouse, for one or any combination of the following:

           1. (i) cash;
           2. (ii) securities for which market quotations are readily available;
           3. (iii) any unconditional obligation to pay cash or securities for which market quotations are readily available which obligation is to be discharged within five years of the sale of securities to the purchaser; or
           4. (iv) the cancellation of any indebtedness owed by the issuer to the purchaser;
        6. (F) any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of his purchase exceeds $1 million;
        7. (G) any natural person who had an individual income or joint income with that person's spouse in excess of $200,000 in each of the two most recent years and who reasonably expects an income in excess of $200,000 in the current year; and
        8. (H) any entity in which all of the equity owners are accredited investors under subparagraphs (A)-(D), (F), or (G) of this paragraph.

Source Note:The provisions of this §109.13 adopted to be effective March 1, 1985, 10 TexReg 569; amended to be effective August 29, 1985, 10 TexReg 2999; amended to be effective April 8, 1986, 11 TexReg 1508; amended to be effective March 10, 1987, 12 TexReg 601; amended to be effective January 1, 1988, TexReg 4470; amended to be effective October 31, 1988, 13 TexReg 4851; amended to be effective November 29, 1989, 14 TexReg 6076; amended to be effective November 15, 1990, 15 TexReg 6290; amended to be effective June 8, 1994, 19 TexReg 4195; amended to be effective August 3, 1995, 20 TexReg 5381; amended to be effective April 8, 1997, 22 TexReg 3218; amended to be effective March14, 1999, 24 TexReg 1769.