Tex. Local Government Code § 501.203
This is the official text of Tex. Local Government Code § 501.203, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
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§ 501.203. SECURITIES COMMISSIONER PERMIT TO SELL SECURITIES REQUIRED.
Official statutory text
A corporation may not sell or offer for sale bonds or other securities until the securities commissioner grants a permit authorizing the corporation to offer and sell the bonds or other securities under the registration provisions of The Securities Act (Title 12, Government Code), except as exempted from registration by rule or order of the State Securities Board. Appeal from an adverse decision of the securities commissioner or the State Securities Board is under the administrative procedure law, Chapter 2001, Government Code. The substantial evidence rule applies in an appeal under this subsection.
Status: in_force · Read it on the official government site
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