Tex. Gov't Code Section 1371.154
Financial Adviser or Investment Adviser Qualifications and Requirements for Certain Agreements and Transactions


(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 (Registration of Dealers Required), 4004.052 (Registration of Investment Advisers Required), or 4004.302 (Notice Filing);

(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.
Added by Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 7, eff. September 1, 2007.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 575 (H.B. 3132), Sec. 1, eff. September 1, 2015.
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.25, eff. January 1, 2022.

Source: Section 1371.154 — Financial Adviser or Investment Adviser Qualifications and Requirements for Certain Agreements and Transactions, https://statutes.­capitol.­texas.­gov/Docs/GV/htm/GV.­1371.­htm#1371.­154 (accessed Nov. 25, 2023).

Accessed:
Nov. 25, 2023

§ 1371.154’s source at texas​.gov