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Texas Government Code - GOV'T § 1371.154. Financial Adviser or Investment Adviser Qualifications and Requirements for Certain Agreements and Transactions

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 1371.154. Financial Adviser or Investment Adviser Qualifications and Requirements for Certain Agreements and Transactions - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-1371-154/

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