1. (a) The Securities Commissioner, where applicable, will utilize the criteria contained in the North American Securities Administrators Association, Inc. (NASAA) Statements of Policy set forth in subsection (b) of this section for offerings registering pursuant to the Texas Securities Act, §7. While applications not conforming to a statement of policy shall be looked upon with disfavor, where good cause is shown or to protect investors, certain provisions may be modified or waived by the Commissioner.

2. (b) In order to promote uniform regulation, the following NASAA Statements of Policy shall apply to the registration of securities:

   1. (1) Corporate Securities Definitions, as amended by NASAA on March 31, 2008;
   2. (2) Impoundment of Proceeds, as amended by NASAA on March 31, 2008;
   3. (3) Loans and Other Material Affiliated Transactions, as amended by NASAA on March 31, 2008;
   4. (4) Options and Warrants, as amended by NASAA on March 31, 2008;
   5. (5) Preferred Stock, as amended by NASAA on March 31, 2008;
   6. (6) Promoter's Equity Investment, as amended by NASAA on March 31, 2008;
   7. (7) Promotional Shares, as amended by NASAA on March 31, 2008;
   8. (8) Specificity in Use of Proceeds, as amended by NASAA on March 31, 2008;
   9. (9) Underwriting Expenses, Underwriter's Warrants, Selling Expenses, and Selling Security Holders, as amended by NASAA on March 31, 2008;
   10. (10) Unsound Financial Condition, as amended by NASAA on March 31, 2008;
   11. (11) Unequal Voting Rights, as amended by NASAA on March 31, 2008;
   12. (12) Debt Securities, as amended by NASAA on April 25, 1993;
   13. (13) Real Estate Programs, as amended by NASAA on May 7, 2007;
   14. (14) Oil and Gas Programs, as amended by NASAA on May 7, 2007;
   15. (15) Asset-backed Securities, as amended by NASAA on May 7, 2007;
   16. (16) Equipment Programs, as amended by NASAA on May 7, 2007;
   17. (17) Real Estate Investment Trusts, as amended by NASAA on May 7, 2007;
   18. (18) Mortgage Programs, as amended by NASAA on May 7, 2007; and
   19. (19) Omnibus Guidelines, as amended by NASAA on May 7, 2007.
3. (c) Copies of the NASAA Statements of Policy are available online at the NASAA web site (www.nasaa.org) and the Texas State Securities Board web site (www.ssb.state.tx.us). Print copies may be obtained by contacting the Texas State Securities Board, P.O. Box 13167, Austin, Texas 78711, or by calling (512) 305-8300.

Source Note:The provisions of this §113.14 adopted to be effective January 7, 2009, 34 TexReg 44.