Texas Insurance Code

§ 548.004 — RULES RELATING TO EQUITY SECURITIES AND EXEMPT SECURITIES

IN § 548.004Title 5. PROTECTION OF CONSUMER INTERESTS · Part C. DECEPTIVE, UNFAIR, AND PROHIBITED PRACTICES · Ch. 548. INSURER INSIDER TRADING AND PROXY REGULATION · Art. A. GENERAL PROVISIONS

Statute text

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(a)If the commissioner considers it necessary or appropriate in the public interest or for the protection of investors, the commissioner by rule may define:

(1)"equity security" to include a security that is similar in nature to an equity security; and

(2)"exempt security" for purposes of this chapter.

(b)In adopting a rule under Subsection (a)(2), the commissioner may define the term conditionally, on specified terms, or for a stated period.

Legislative history

Added by Acts 2003, 78th Leg., ch. 1274, Sec. 2, eff. April 1, 2005.