Tex. Gov't Code § 1371.154 · Subchapter D. ADVISERS RETAINED FOR THE ISSUANCE OF PUBLIC SECURITIES AND RELATED MATTERS
FINANCIAL ADVISER OR INVESTMENT ADVISER QUALIFICATIONS AND REQUIREMENTS FOR CERTAIN AGREEMENTS AND TRANSACTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) This section applies to a financial adviser or an investment adviser who advises the issuer in connection with:
(1) an interest rate management agreement;
(2) the execution or delivery of a public security; or
(3) the investment of the public security proceeds.
(b) To be eligible to be a financial adviser or an investment adviser under this subchapter, the adviser must:
(1) be registered:
(A) as a dealer or investment adviser in accordance with Section 4004.051, 4004.052, or 4004.302;
(B) with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), if the adviser is providing advice on the investment of bond proceeds and not on the issuance of a public security or an interest rate management agreement; or
(C) with the United States Securities and Exchange Commission as a municipal advisor under Section 15B, Securities Exchange Act of 1934 (15 U.S.C. Section 78o-4);
(2) have relevant experience in providing advice to issuers in connection with:
(A) the issuance of public securities;
(B) the valuation of interest rate management agreements; or
(C) the investment of public security proceeds; and
(3) acknowledge in writing to the issuer that in connection with the transaction for which the adviser is providing advice the adviser:
(A) is acting as the issuer's agent; and
(B) has complied with the requirements of this subchapter.
Notes and commentary — not statutory text
History
Added by Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 7, eff. September 1, 2007.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 575 (H.B. 3132), Sec. 1, eff. September 1, 2015.
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.25, eff. January 1, 2022.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1371.htm
- Text hash
- sha256 4bbedf1b70f2fb8a037afe31e9474d2873c5b1d1d227e7cde35064e235568d2e
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Government Code
- Tex. Gov't Code § 4004.051REGISTRATION OF DEALERS REQUIRED.Printed as Section 4004.051, 4004.052, or 4004.302
- Tex. Gov't Code § 4004.052REGISTRATION OF INVESTMENT ADVISERS REQUIRED.Printed as Section 4004.051, 4004.052, or 4004.302
- Tex. Gov't Code § 4004.302NOTICE FILING.Printed as Section 4004.051, 4004.052, or 4004.302
Cited by 2 provisions
Provisions in this library whose text cites Tex. Gov't Code § 1371.154. Each shows the citation as that text prints it.
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.