Renewal of Permit

Sec. 4003.009. RENEWAL OF PERMIT. (a) An issuer or registered dealer may file a renewal application with the commissioner if the securities authorized to be sold under a permit qualifying securities for sale that is issued under this subchapter are not sold before the permit expires. (b) The renewal application must: (1) state: (A) the total number of shares sold in this state; (B) the total number of shares sold outside this state; and (C) the total number of shares outstanding; (2) contain a detailed balance sheet; (3) contain an operating statement; and (4) provide any other information the commissioner may require. (c) The commissioner shall examine a renewal application and issue a renewal permit or deny the application using the standards stated in Section 4003.006 applicable to an original application. (d) If issued, a renewal permit: (1) is valid for one year; and (2) must be in the form the commissioner prescribes. Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.