Can you summarize 7 TXAC 139.9?

Short Summary

A bank holding company with fewer than 500 shareholders that owns the majority of the voting shares of a bank domiciled in Texas is hereby exempted from the dealer registration requirements of the Securities Act, 12, with respect to its participation in a sale or other transaction involving its own securities or the securities of a bank where the bank holding company owns a majority of the voting shares of such bank. Source Note: The provisions of this 139.9 adopted to be effective January 12, 1984, 8 TexReg 5532.

Jurisdiction

Texas

Source

• Banking