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 that has registration requirements that are substantially equivalent to the requirements for a Texas registration in the same capacity;
      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) Military spouse--An applicant who is married to a military service member who is currently on active duty.
   4. (4) Military service member--A person who is currently serving in the armed forces of the United States, in a reserve component of the armed forces of the United States, including the National Guard, or in the state military service of any state.
   5. (5) Military veteran--A person who has served in the Army, Navy, Air Force, Marine Corps, or Coast Guard of the United States, or in the auxiliary service of one of those branches of the armed forces.

2. (b) Alternative procedure for a military spouse as authorized by Occupations Code, §55.004.

   1. (1) An applicant who is a military spouse may use the procedure set out in this subsection if:

      1. (A) the applicant holds a current registration in another jurisdiction; 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. (2) If the applicant is not registered within five days of submitting an application, the applicant may request special consideration of his or her application for registration by filing Form 133.4, Request for Special Consideration of a Registration Application by a Military Spouse, Military Service Member, or Military Veteran, with the Securities Commissioner ("Commissioner"). Within five business days of receipt of the completed Form 133.4, the applicant will be notified in writing of the reason(s) for the pending or deficient status assigned to the application.
   3. (3) 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.

3. (c) Expedited review of an application submitted by a military spouse as authorized by Occupations Code, §55.005 and §55.006.

   1. (1) An applicant who is a military spouse may use the procedure set out in this subsection if the applicant holds a current registration in another jurisdiction.
   2. (2) If the applicant is not registered within five days of submitting an application, the applicant may request special consideration of his or her application for registration by filing Form 133.4, Request for Special Consideration of a Registration Application by a Military Spouse, Military Service Member, or Military Veteran, with the Commissioner.
   3. (3) An applicant proceeding under this subsection may be registered despite having pending and/or deficient items ("deficiencies"). The deficiencies will be communicated to the applicant in writing or by electronic means within five business days from approval of the registration.
   4. (4) The deficiencies noted at the time the registration is granted must be resolved by the applicant within a 12 month period. Failure to resolve outstanding deficiencies will cause the registration granted under this subsection or any renewal of such registration to automatically terminate 12 months after the date the registration was initially granted pursuant to this subsection.

4. (d) Registration of persons with military experience as authorized by Occupations Code, §55.007.

   1. (1) An applicant who is a military service member or military veteran may request special consideration of verified military service, training, or education towards registration requirements, other than an examination requirement, for the registration sought by submitting Form 133.4, Request for Special Consideration of a Registration Application by a Military Spouse, Military Service Member, or Military Veteran, with the applicant's registration application.

   2. (2) The procedure authorized by this subsection is not available to a military service member or military veteran who:

      1. (A) is registered in another jurisdiction but such registration is not in good standing; or
      2. (B) has been convicted of a crime that could be the basis for denial of the registration pursuant to the Texas Securities Act, §14.A.

5. (e) Other provisions in this chapter.

   1. (1) 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 IARD.
   2. (2) A one-year period, instead of the 90-day period contained in §116.2 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.

6. (f) Additional information. An applicant receiving special consideration pursuant to this section in connection with a registration application shall provide any other information deemed necessary by the Commissioner. Such information may include, but is not limited to documentation:

   1. (1) demonstrating status as a military spouse, service member, or military veteran;
   2. (2) to determine whether the applicant meets licensing requirements through some alternative method;
   3. (3) relating to prior military service, training, or education that may be credited towards a registration requirement; or
   4. (4) to determine an investment adviser's financial responsibility or an investment adviser's or investment adviser representative's business repute or qualifications.

Source Note:The provisions of this §116.18 adopted to be effective June 13, 2012, 37 TexReg 4186; amended to be effective March 1, 2014, 39 TexReg 493.