1. (a) All records required to be maintained by registered investment advisers shall be maintained at the location designated in Form 133.16 and at such other locations registered as branch offices with the Securities Commissioner.
2. (b) The Securities Commissioner or his or her authorized representative may conduct on-site examinations of registered investment advisers without notice and shall be entitled to immediate and free access to all records, required to be maintained pursuant to Board rules or maintained in the course of the normal business of the investment adviser, and to all locations where such records are kept. The Commissioner or his or her authorized representative shall be permitted to make photostatic or computer copies of such records.
3. (c) In the alternative, the Securities Commissioner or his or her authorized representative may require that all records maintained pursuant to Board rules or maintained in the course of the normal business of the investment adviser be made available in any office of the State Securities Board designated by the Commissioner or his or her representative within 48 hours of a request or within a greater time period as the Commissioner or his or her authorized representative deems reasonable.

Source Note:The provisions of this §116.7 adopted to be effective August 12, 2001, 26 TexReg 5799.