(a) Securities dealer application requirements. A complete application consists of the following: (1) items filed via the Central Registration Depository System (CRD) which is jointly operated by NASAA, the SEC, and FINRA, for FINRA member firms, or items filed either in paper form or as provided in §115.22 of this chapter (relating to Electronic Submission of Forms and Fees) for non-FINRA member firms, using the applicable uniform forms:(A) Form BD;(B) Form U-4 for the designated officer and a Form U-4 for each agent to be registered (officers of a corporation or partners of a partnership shall not be deemed agents solely because of their status as officers or partners); and(C) the appropriate registration fee(s).(2) items filed with the Securities Commissioner either in paper form or as provided in §115.22 of this chapter: (A) a copy of articles of incorporation, certificate of formation, partnership agreement, articles of association, trust agreement, or other documents which indicate the form of organization, certified by the appropriate jurisdiction or by an officer or partner of the applicant;(B) a balance sheet prepared in accordance with United States generally accepted accounting principles reflecting the financial condition of the dealer as of a date not more than 90 days prior to the date of such filing. The balance sheet should be compiled, reviewed, or audited by independent certified public accountants or independent public accountants, or must instead be certified by the applicant's principal financial officer. If certified by the principal financial officer of the applicant, such officer shall make the certification on Form 133.18, Certification of Balance Sheet by Principal Financial Officer; and(C) any other information deemed necessary by the Securities Commissioner to determine a dealer's financial responsibility or dealer's or agent's business repute or qualifications.(b) Designated officer registration. Dealers, including an individual filing as a sole proprietor, must file a Form U-4 application for a designated officer to register in connection with the registration of the dealer. The dealer's designated officer must be an officer, partner, or the sole proprietor of the dealer and have completed the necessary registration and examination requirements. If the designated officer of a dealer, other than a sole proprietor, resigns or is otherwise removed from his or her position, the dealer shall make an application to register another officer or partner within 30 days.(c) Branch office designation and inspection. (1) A dealer may designate a branch office upon initial application of the dealer or by amendment to a current Form BR. No sales-related activity may occur in any branch office location until such time as the dealer has notified the Securities Commissioner that such location will function as a branch office by submitting Form BR on CRD for FINRA member firms. For non-FINRA member firms, the request is made by submitting Form BR to the Securities Commissioner. (2) Simultaneous with the designation of a branch office, a supervisor must be designated for that branch office. A supervisor is not required to be registered as a FINRA principal, but must be registered in Texas as an agent and is responsible for supervision of the activities of the branch office. A supervisor may not supervise sales activities encompassing a broader range of products than those covered by the supervisor's qualification examination(s). Within 10 business days after a supervisor ceases to be employed or registered in such capacity by the dealer, the dealer must designate a new supervisor, qualified by passage of the appropriate examinations, for the branch office.(3) Each branch office of a dealer that is registered with the Securities Commissioner is subject to unannounced inspections at any time during normal business hours. (d) Automatic withdrawal of a dealer or agent application for registration that has been pending for at least 90 days. If an application for dealer or agent registration has been pending for at least 90 days and the applicant has failed to substantively respond to a written request for information sent by either electronic mail or by certified mail to the applicant's address as set forth in the application, an automatic withdrawal will occur. The written request must have advised the applicant that if a substantive response is not received within 30 days from the date of the request, the application will be withdrawn automatically. Regardless of how long an application has been pending, it may not be withdrawn automatically without sending notice of this subsection to the address set forth in the application and allowing the applicant 30 calendar days from the date of the notice to provide a substantive written response. A copy of this subsection and the most recent written request for information will be included with the notice. (e) Central Registration Depository System (CRD). (1) Whenever the Texas Securities Act or Board rules require the filing of an application with the Securities Commissioner for dealer or agent registration, members of FINRA or applicants for membership in FINRA shall make such filing electronically through CRD.(2) Uniform forms submitted through the CRD that designate Texas as a jurisdiction in which the filing is to be made are deemed to be filed with the Securities Commissioner and constitute official records of the Board.