Texas Vernon's Texas Civil Statutes - Article 581-19. Annual Registration; Renewals

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Art. 581-19. ANNUAL REGISTRATION;  RENEWALS.  A. Except as 
provided in Subsections B and C of this section, all registrations 
shall expire at the close of the calendar year, but new 
registrations for the succeeding year shall be issued upon written 
application and upon payment of the fees as hereinafter provided, 
without filing of further statements or furnishing any further 
information unless specifically requested by the Commissioner.  If 
any applicant is registered after December 1st of any year, he may 
immediately apply for a renewal of his registration for the ensuing 
year.
	B. The Board by rule may adopt a system under which 
registrations expire on various dates during the year.  For the year 
in which the registration expiration date is changed, registration 
fees payable after the 60th day and before the 30th day before 
January 1st of the next year shall be prorated on a monthly basis so 
that each person shall pay only that portion of the registration fee 
that is allocable to the number of months during which the 
registration is valid.  On renewal of the registration on the new 
expiration date, the total registration renewal fee is payable.
	C. Renewal of Registration.  (1) A person may renew an 
unexpired registration by filing a renewal application in the form 
prescribed by the Commissioner and paying to the Board, before the 
expiration date of the registration, the required renewal fee.
	(2)  If a person's registration has been expired for ninety 
(90) days or less, the person may renew the registration by filing a 
renewal application with the Commissioner and paying to the Board 
the required renewal fee and a fee that is equal to one-half of the 
original application fee for the registration.
	(3)  If a person's registration has been expired for longer 
than ninety (90) days but less than two years, the person may renew 
the registration by filing a renewal application with the 
Commissioner and paying to the Board all unpaid renewal fees and a 
fee that is equal to the original application fee for the 
registration.
	(4)  If a person's registration has been expired for two 
years or more, the person may not renew the registration.  The 
person may obtain a new registration by submitting to reexamination 
and complying with the requirements and procedures for obtaining an 
original registration.  The person must pay to the Board a fee that 
is equal to the original application fee.
	(5)  At least thirty (30) days before the expiration of a 
person's registration, the Commissioner shall send to the person at 
the person's last known address according to the records of the 
Board a written notice of the impending expiration of the 
registration.
	(6)  A person who sells securities or renders investment 
advisory services after the person's registration has expired and 
before it is renewed is subject to the sanctions provided by this 
Act for selling securities or rendering investment advice without 
being registered.
	D. The Board may recognize, prepare, or administer continuing 
education programs for a person who is registered under this Act. If 
participation is required by the Board as a condition of 
maintaining the certificate or evidence of registration, a person 
who is registered under this Act must participate in the continuing 
education programs.

Acts 1957, 55th Leg., p. 575, ch. 269, Sec. 19.                               

Amended by Acts 1983, 68th Leg., p. 2688, ch. 465, Sec. 1, eff. 
Sept. 1, 1983.  Subsec. A amended by Acts 1989, 71st Leg., ch. 733, 
Sec. 4, eff. Sept. 1, 1989;  Subsec. C amended by Acts 1995, 74th 
Leg., ch. 228, Sec. 11, eff. Sept. 1, 1995;  Subsec. D amended by 
Acts 2001, 77th Leg., ch. 1091, Sec. 2.14, eff. Sept. 1, 2001.

Last modified: August 10, 2007