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TITLE 7 - BANKING AND SECURITIES
PART 7 - STATE SECURITIES BOARD
CHAPTER 103 - RULEMAKING PROCEDURE
SUBCHAPTER 103.5.html - null
SECTION/RULE §103.5 - Petitions
Chapter Review Date 03/27/2023

Pursuant to Texas Government Code, §2001.021, any interested person may petition the Commissioner requesting the adoption of a rule, and within 60 days the Commissioner will initiate rulemaking proceedings, or deny the petition in writing, stating his or her reasons therefor. The petition must set forth the following:(1) The text of the proposed rule and a brief explanation thereof.(2) A statement of the statutory or other authority under which the rule is proposed.(3) A statement of the particular statute or statutes and sections thereof to which the proposed rule relates.(4) A concise statement of the principal reasons for adoption of the rule; and the date submitted and by whom.(5) If available to the petitioner(s), the following analyses related to the adoption of the rule:(A) an analysis supporting the draft government growth impact statement required by Texas Government Code, §2001.0221;(B) an analysis supporting the economic impact statement required by Texas Government Code, §2006.002;(C) an analysis supporting the regulatory flexibility analysis required by Texas Government Code, §2006.002;(D) an analysis supporting the takings impact assessment required by Texas Government Code, §2007.043;(E) an analysis supporting the local employment impact statement required by Texas Government Code, §2001.024(a)(6);(F) an analysis supporting the cost-benefit analysis required by Texas Government Code, §2001.024(a)(5);(G) an analysis supporting the fiscal note required by Texas Government Code, §2001.024(a)(4); and(H) if Texas Government Code, §2001.0045(b) would apply to the adopted rule:(i) identify the proposed repeal or amendment that is being suggested to offset costs of the adopted rule; and(ii) explain the reasoning behind the estimate of the costs that would be offset by the proposed repeal or amendment.

Source Note: The provisions of this §103.5 adopted to be effective January 1, 1976; amended to be effective March 14, 1999, 24 TexReg 1768; amended to be effective August 25, 2019, 44 TexReg 4309.

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