1. (a) Issuance. An evidence of registration shall be issued for each registered dealer or investment adviser reflecting the registered officer or partner. An evidence of registration shall be issued for each registered branch office reflecting the registered branch manager. In addition, dealers and investment advisers shall be provided with the names of all registered agents.

2. (b) Amendments and successor entities.

   1. (1) Changes in the information reflected on the evidence of registration must be submitted to the Securities Commissioner within 30 days of such change, in order that amendments may be made. Upon receipt of the amended evidence of registration, the dealer or investment adviser must surrender the original to the Securities Commissioner. The fee for filing to amend the evidence of registration is $25.
   2. (2) Structural changes to a currently registered securities dealer or investment adviser, including reorganizations, mergers, or consolidations, that result in a surviving entity that is not currently registered, will require the filing of a new application for registration. Upon registration of the surviving entity, the registration of the predecessor securities dealer or investment adviser will be cancelled.
   3. (3) The application for the successor entity should be filed far enough in advance that the application can be reviewed and approved prior to the successor entity taking over the business of the registered dealer. If a successor entity has taken over the business of a registered dealer before the application of the successor entity has been reviewed and approved, then the successor entity and its agents are subject to the sanctions provided by the Texas Securities Act for selling securities or rendering investment advice while unregistered. If specifically requested in writing with a completed application submission, a temporary registration for a term of 60 days may be granted by the Securities Commissioner at his or her discretion to allow the successor entity to carry on the business of the registered or extinct entity until the application can be reviewed and approved. An additional fee of $25, as required in paragraph (1) of this subsection, must be submitted with this request since it will involve an amendment to the evidence of registration when the application is approved.
3. (c) Cancellation. A securities dealer or investment adviser is required to notify the Securities Commissioner upon termination of any registered agent from its employ. Upon receipt of such notification, the Securities Commissioner shall cancel the registration. Dealers who are members of the NASD must file through the CRD a Form U-5, Uniform Termination Notice for Securities Industry Registration, to comply with this subsection.

4. (d) Renewal.

   1. (1) Procedures for renewing expired and unexpired registrations are set forth in the Texas Securities Act, §19.C.
   2. (2) A notice of impending expiration of registration (renewal application) will be sent to a currently registered dealer or investment adviser at least 30 days before the expiration of its registration. The renewal application should be returned to the State Securities Board for processing, along with the appropriate fee. Each applicant fulfilling the renewal requirements set forth in the renewal application will be registered for the following calendar year.

   3. (3) If a person's registration is not renewed in a timely manner because such person is or was on active duty with the armed forces of the United States of America serving outside Texas, such person may renew the registration pursuant to this paragraph.

      1. (A) Renewal of the registration may be requested by such person, such person's spouse, or an individual having power of attorney from such person. The renewal application shall include a current address and telephone number for the individual requesting the renewal.
      2. (B) Renewal may be requested before or after expiration of the registration.
      3. (C) A copy of the official orders or other official military documentation showing that such person is or was on active duty serving outside Texas shall be submitted to the Securities Commissioner along with the renewal application.
      4. (D) A copy of the power of attorney from such person, if any, shall be filed with the Securities Commissioner along with the renewal application if the individual having the power of attorney executes any of the documents required in this paragraph.
      5. (E) A renewal application submitted to the Securities Commissioner pursuant to this paragraph shall be accompanied by the applicable renewal fee set out in subsection (e) of this section.
      6. (F) The State Securities Board will not assess any increased fee or other penalty against the person for failure to timely renew such person's registration if such person establishes to the satisfaction of the Securities Commissioner that all requirements of this paragraph have been met.
   4. (4) All procedures set forth in this subsection shall also apply to investment advisers and advisory agents who have submitted a notice filing and fee to the Securities Commissioner.

5. (e) Registration and notice filing fees. Registration and notice filing fees are as follows:

   1. (1) Securities Dealer--$275 for original applications and $240 for renewal applications.
   2. (2) Investment Adviser--$275 for original applications and $240 for renewal applications.
   3. (3) Agent, Officer, Partner, or Salesman of Securities Dealer or Investment Adviser--$235 for original applications and $220 for renewal applications.

6. (f) Reduced registration fees for certain persons registered in multiple capacities.

   1. (1) In general. A person may request reduced fees under paragraph (2) of this subsection, provided they are registered or are seeking registration in Texas:

      1. (A) as either an agent of a securities dealer or as a sole proprietor securities dealer; and
      2. (B) as either an agent of an investment adviser that has less than five agents or as a sole proprietor investment adviser with less than five agents.
   2. (2) Procedure. Persons meeting the requirements of paragraph (1) of this subsection may request reduced registration fees by filing Form 133.36, Request for Reduced Fees for Certain Persons Registered in Multiple Capacities. Form 133.36 must be filed at the time the original application for investment adviser agent or sole proprietor investment adviser registration is filed, or at least 30 days before the person's existing investment adviser agent or sole proprietor investment adviser registration will expire. On review of Form 133.36, the Securities Commissioner may, in his or her discretion, grant or deny the request for reduced fees or direct the person to supply additional information.
   3. (3) Reduced fees. If the Securities Commissioner grants a person's request, the person must pay all applicable fees for securities agent or dealer registration as specified in the Texas Securities Act, §§35.A, 35.B, and 41(a), but is exempt from the fees specified in the Texas Securities Act, §41(a), in connection with original and renewal applications for investment adviser agent or sole proprietor investment adviser registration, as applicable at the time Form 133.36 is filed. The reduction in fees granted by the Securities Commissioner under this subsection shall continue in force, without any further filings, as long as a person remains registered in a multiple capacity status.

Source Note:The provisions of this §115.4 adopted to be effective January 1, 1976; amended to be effective January 25, 1980, 5 TexReg 139; amended to be effective January 12, 1984, 9 TexReg 5530; amended to be effective October 30, 1985, 10 TexReg 4083; amended to be effective April 8, 1986, 11 TexReg 1508; amended to be effective January 1, 1988, 12 TexReg 4470; amended to be effective November 29, 1989, 14 TexReg 6078; amended to be effective February 19, 1992, 17 TexReg 1088; amended to be effective February 23, 1993, 18 TexReg 835; amended to be effective September 22, 1995, 20 TexReg 7188; amended to be effctive October 29, 1996, 21 TexReg 10177; amended to be effective April 9, 1997, 22 TexReg 3221; amended to be effective August 24, 1998, 23 TexReg 8671.