7 TAC §§119.1-119.4
The State Securities Board adopts the repeal of §§119.1-119.4,
concerning publicly offered cattle feeding programs, without changes to the
proposed text as published in the March 12, 1999, issue of the
Texas Register
(24 TexReg 1707).
Since no cattle feeding programs have been registered with the Agency since
the 1980s, specific guidelines for such programs are unnecessary. Following
this repeal, any cattle feeding programs applying for registration with the
Agency will be subject to the more general securities registration guidelines
contained in Chapter 113 (7 TAC §§113.1-113.25).
A chapter that is no longer needed will be eliminated.
No comments were received regarding adoption of the repeal.
The repeals are adopted under Texas Civil Statutes, Article 581-28-1.
Section 28-1 provides the Board with the authority to adopt rules and regulations
necessary to carry out and implement the provisions of the Texas Securities
Act, including rules and regulations governing registration statements and
applications; defining terms; classifying securities, persons, and matters
within its jurisdiction; and prescribing different requirements for different
classes.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Filed with the Office of the Secretary of State on July
12, 1999.
TRD-9904190
Denise Voigt Crawford
Securities Commissioner
State Securities Board
Effective date: August 1, 1999
Proposal publication date: March 12, 1999
For further information, please call: (512) 305-8300