- (a) It is the policy of the State Securities Board to refuse to grant any exemptions by order under §4005.024 of the Securities Act for specific individual transactions or issuers.
- (b) The company or person engaged in a transaction exempt under a rule adopted pursuant to the Securities Act, §4005.024, shall not be deemed a dealer within the meaning of the Act unless the rule by its terms indicates otherwise.
Source Note:The provisions of this §139.1 adopted to be effective April 15, 1980, 5 TexReg 1285; amended to be effective October 4, 1984, 9 TexReg 4974; amended to be effective November 14, 2024, 49 TexReg 8876.