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Texas Vernon's Texas Civil Statutes - Article 581-35-1. Fees For Sales Of Excess Securities

Legal Research Home > Texas Laws > Vernon's Texas Civil Statutes > Texas Vernon's Texas Civil Statutes - Article 581-35-1. Fees For Sales Of Excess Securities

Art. 581-35-1. FEES FOR SALES OF EXCESS SECURITIES.  A. An 
offeror who sells securities in this State in excess of the 
aggregate amount of securities registered for the offering may 
apply to register the excess securities by paying three times the 
difference between the initial fee paid and the fee required under 
Subsection B(2) of Section 35, plus, if the registration is no 
longer in effect, interest on that amount computed at the rate 
provided by Section 302.002, Finance Code, from the date the 
registration was no longer in effect until the date the subsequent 
application is filed, for the securities sold to persons within 
this State, plus the amendment fee prescribed by Subsection A(1) of 
Section 35.  Registration of the excess securities, if granted, 
shall be effective retroactively to the effective date of the 
initial registration for the offering.
	B. An offeror who has filed a notice to claim a limited 
offering exemption, who paid less than the maximum fee prescribed 
in Subsection B(7) of Section 35, and who offered a greater amount 
of securities in the offering than authorized pursuant to the 
formula prescribed in Subsection B(7) of Section 35, may file an 
amended notice disclosing the amount of securities offered and 
paying three times the difference between the fee initially paid 
and the fee which should have been paid, plus interest on that 
amount computed at the rate provided by Section 302.002, Finance 
Code, from the date the original notice was received by the 
Commissioner until the date the amended notice is received by the 
Commissioner.  The amended notice shall be retroactive to the date 
of the initial filing.

Added by Acts 1979, 66th Leg., p. 361, ch. 160, Sec. 9, eff. May 15, 
1979.  Amended by Acts 1987, 70th Leg., ch. 732, Sec. 4, eff. Sept. 
1, 1987;  Acts 1989, 71st Leg., ch. 733, Sec. 12, eff. Sept. 1, 1989;  
Acts 1997, 75th Leg., ch. 1396, Sec. 40, eff. Sept. 1, 1997;  Acts 
1999, 76th Leg., ch. 62, Sec. 7.97, eff. Sept. 1, 1999;  Acts 2003, 
78th Leg., ch. 1077, Sec. 2, eff. June 20, 2003.

Last modified: August 11, 2007