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Rule §139.13 Resales Under Sec Rule 144 And Rule 145(D)

Published: 2015

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(a) Exemption from securities registration. Offers to resell and resales of any security by the owner thereof, or any person acting on behalf of the owner, shall be exempt from the securities registration requirements of the Texas Securities Act, §7, pursuant to §5.T, if the offers to resell and resales of securities are made in compliance with either:   (1) Rule 144 promulgated by the Securities and Exchange Commission (SEC) under the Securities Act of 1933, as amended (1933 Act), as made effective in SEC Release Number 33-5223, as amended in Release Numbers 33-5307, 33-5452, 33-5452A, 33-5560, 33-5613, 33-5717, 33-5979, 33-5995, 33-6032, 33-6180, 34-16589, 33-6286, 33-6389, 33-6488, 33-6768, 33-6862, 33-7285, and 33-7390; or   (2) Rule 145(d) promulgated by the SEC under the 1933 Act as made effective in SEC Release Number 33-5316, as amended in Release Numbers 33-5932, 33-6508, 33-6578, 33-6579, 33-6611, 33-6862, and
33-7390. (b) Dealer and agent registration. Any person (other than the owner) who acts as an agent of the owner in connection with a sale to any prospective purchaser in a transaction exempt from securities registration by virtue of this section shall be registered as either a dealer or agent under the Act, as applicable.

Source Note: The provisions of this §139.13 adopted to be effective August 28, 1992, 17 TexReg 5681; amended to be effective August 24, 1998, 23 TexReg 8672.