1. (a) Definitions. The following words and terms, when used in this section, shall have the following meanings, unless the context clearly indicates otherwise.

   1. (1) Current registration--A registration or license that is:

      1. (A) issued by another state, the District of Columbia, or a territory of the United States;
      2. (B) in good standing; and
      3. (C) in the same capacity as the application for registration in Texas.

   2. (2) Good standing--A registration or license that is effective and unrestricted. A registration or license is considered to be restricted and not in good standing if it is subject to:

      1. (A) an undertaking, special stipulations or agreements relating to payments, limitations on activity or other restrictions;
      2. (B) a pending administrative or civil action; or
      3. (C) an order or other written directive issued pursuant to statutory authority and procedures, including orders of denial, suspension, or revocation.

   3. (3) Qualified military spouse--An applicant who is the spouse of an individual serving on active duty as a member of the armed forces of the United States assigned to a military unit headquartered in Texas, and who:

      1. (A) holds a current registration in another state, the District of Columbia, or a territory of the United States, that has registration requirements that are substantially equivalent to the requirements for a Texas registration in the same capacity; or
      2. (B) has been registered in Texas in the same capacity within the five years preceding the date of the application for registration, but whose registration in Texas expired while the applicant lived in another state for at least six months.
2. (b) Request for expedited review. A qualified military spouse who is not registered within five days of submitting an application may request expedited review of his or her application for registration by filing Form 133.4, Military Spouse Request for Expedited Review, with the Securities Commissioner ("Commissioner"). An application for registration from an applicant qualifying under this section shall be expedited by the Registration Division. Upon receipt of the completed Form 133.4, the Commissioner will notify the applicant in writing within five days that the applicant is entitled to an expedited review of the application and will advise the applicant the reason(s) for the pending or deficient status.

3. (c) Other provisions in this chapter.

   1. (1) Applicability. Unless specifically allowed in this section, an applicant must meet the requirements for registration or renewal specified in this chapter. This includes the requirement that certain filings be made electronically through the CRD.

   2. (2) Exceptions.

      1. (A) A one-year period, instead of the 90-day period contained in §115.2 of this title (relating to Application Requirements), will apply to the automatic withdrawal of an application for which a Form 133.4 is properly filed.
      2. (B) In addition to the waivers of examination requirements set out in §115.3 of this title (relating to Examination), the Commissioner in his or her discretion is authorized by the Board to grant full or partial waivers of the examination requirements of the Texas Securities Act, §13.D, on a showing of alternative demonstrations of competency to meet the requirements for obtaining the registration sought.
4. (d) Additional information. An applicant requesting expedited review shall provide any other information deemed necessary by the Commissioner to determine a dealer's financial responsibility or a dealer's or agent's business repute or qualifications.

Source Note:The provisions of this §115.18 adopted to be effective June 13, 2012, 37 TexReg 4185.