(a) Rules. Rules are regulatory standards adopted and promulgated as herein required and shall be considered the highest level of policy applied by the Board.
(b) Written administrative guidelines. Written administrative guidelines are of the same level of policy as rules and will be adopted in the same manner and have the same effect as rules.
(c) Forms. Forms are regulatory standards adopted for the purpose of implementing the Texas Securities Act by prescribing initial basic requirements for completing various applications and reports filed with the Commissioner. The forms required by the Commissioner are set forth in Chapter 133 of this title (relating to Forms) and have the same force and effect as rules.
(d) Preliminary administrative suggestions. The commissioner may also adopt preliminary administrative suggestions which will represent those standards which are newly developed, only recently reduced to writing, in the process of being modified, or otherwise considered by the commissioner to be not yet suitable for general application and promulgation and publication as rules or written administrative guidelines. Such preliminary administrative suggestions may be implemented at any time without publication or other notice and may be immediately applied by the commissioner in the public interest or for the protection of investors.
(e) Opinions. Statements made and opinions expressed orally or in writing by personnel of the State Securities Board in response to inquiries or otherwise, and not specifically identified and promulgated as rules, shall not be considered regulatory standards of the Board and shall not be considered binding upon the Commissioner in connection with specific adjudications undertaken by the Commissioner thereafter. The Commissioner may refuse to answer any question based upon a hypothetical fact situation.
(f) Interpretations by General Counsel.
(1) The Board's General Counsel may respond to inquiries concerning interpretations of the Texas Securities Act or these sections, provided sufficient relevant facts are given and the situation is not hypothetical. The General Counsel may refuse to respond to any inquiry. Responses to inquiries may take the following forms:
(2) A nonrefundable fee in the amount set forth in the Texas Securities Act, §4006.058, must accompany each inquiry.
Source Note: The provisions of this §101.2 adopted to be effective January 1, 1976; amended to be effective October 30, 1985, 10 TexReg 4080; amended to be effective March 14, 1999, 24 TexReg 1768; amended to be effective July 6, 2023, 48 TexReg 3497