Texas Register, Volume 46, Number 38, Pages 5983-6306, September 17, 2021 Page: 6,011
5985-6306 p. ; 28 cm.View a full description of this periodical.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
state agencies to adopt rules to create and administer an em-
ployee family leave pool.
The proposed new rule affects Government Code, Chapter 661.
101.8. Employee Leave Pools.
(a) Family leave pool. A family leave pool is established to
provide eligible employees more flexibility in bonding and caring for
children during a child's first year following birth, adoption, or fos-
ter placement, and caring for a seriously ill family member or the em-
ployee, including pandemic-related illnesses or complications caused
by a pandemic.
(1) The Securities Commissioner is designated as the pool
administrator.
(2) The pool administrator will establish operating proce-
dures consistent with the requirements of this subsection and relevant
law governing operation of the pool.
(3) Donations to the pool are strictly voluntary.
(b) Sick leave pool. A sick leave pool is established to provide
for the alleviation of the hardship caused to an employee and the em-
ployee's family if a catastrophic illness or injury forces the employee
to exhaust all leave time earned by that employee and to lose compen-
sation from the state.
(1) The Securities Commissioner is designated as the pool
administrator.
(2) The pool administrator will establish operating proce-
dures consistent with the requirements of this subsection and relevant
law governing operation of the pool.
(3) Donations to the pool are strictly voluntary.
The agency certifies that legal counsel has reviewed the pro-
posal and found it to be within the state agency's legal authority
to adopt.
Filed with the Office of the Secretary of State on September 3,
2021.
TRD-202103515
Travis J. Miles
Securities Commissioner
State Securities Board
Earliest possible date of adoption: October 17, 2021
For further information, please call: (512) 305-8303
CHAPTER 115. SECURITIES DEALERS AND
AGENTS
7 TAC 115.18
The Texas State Securities Board proposes an amendment
to 115.18, concerning Special Provisions Relating to Military
Applicants, to implement the requirements of House Bill 139,
passed by the 87th Legislature, Regular Session (2021), which
amended the definition of "Armed Forces of the United States"
in 55.001 of the Texas Occupations Code to add the Space
Force as the newest branch of the Armed Forces and amended
55.004 of the Texas Occupations Code to allow military
spouse applicants to establish Texas residency for occupational
licensing purposes by providing copies of the military service
member's change of station orders. The amendment would
align the requirements and procedures for military applicants tobecome registered as securities professionals with the updated
sections of the Occupations Code. Comparable amendments to
the corresponding rule for investment advisers and investment
adviser representatives are being concurrently proposed.
Clinton Edgar, Deputy Securities Commissioner; and Emily Diaz
and Shaun Yarroll, Assistant Directors, Registration Division,
have determined that for the first five-year period the proposed
amendment is in effect there will be no foreseeable fiscal impli-
cations for state or local government as a result of enforcing or
administering the amendment.
Mr. Edgar, Ms. Diaz, and Mr. Yarroll have also determined that
for each year of the first five years the proposed amendment
is in effect the public benefit expected as a result of adoption
of the proposed amendment will be to ease or reduce regula-
tory burdens of certain military service members and spouses,
licensed in good standing as securities professionals in another
state, who are relocating to Texas. The proposed amendment
would also make the rule consistent with Chapter 55 of the Oc-
cupations Code and the current structure of the Armed Forces
of the United States. There will be no adverse economic effect
on micro- or small businesses or rural communities. Since the
proposed amendment will have no adverse economic effect on
micro- or small businesses or rural communities, preparation of
an economic impact statement and a regulatory flexibility anal-
ysis is not required. There is no anticipated economic cost to
persons who are required to comply with the amendment as pro-
posed. There is no anticipated impact on local employment.
Mr. Edgar, Ms. Diaz, and Mr. Yarroll have also determined that
for the first five-year period the proposed amendment is in ef-
fect: it does not create or eliminate a government program; it
does not require the creation or elimination of existing employee
positions; it does not require an increase or decrease in future
legislative appropriations to this agency; it does not require an
increase or decrease in fees paid to this agency; it does not in-
crease or decrease the number of individuals subject to the rule's
applicability; and it does not positively or negatively affect the
state's economy. Additionally, the proposed amendment does
not create a new regulation, or expand, limit, or repeal an exist-
ing regulation.
Comments on the proposal must be in writing and will be ac-
cepted for 30 days following publication of the proposed sec-
tion in the Texas Register. Written comments should be submit-
ted to Marlene K. Sparkman, General Counsel, State Securities
Board, P.O. Box 13167, Austin, Texas 78711-3167 or faxed to
(512) 305-8336. Comments may also be submitted electroni-
cally to proposal@ssb.texas.gov. In order to be considered by
the Board at adoption, comments must be received no later than
30 days following publication.
The amendment is proposed under Texas Civil Statutes, Article
581-28-1 and 55.0041 of the Texas Occupations Code. Sec-
tion 28-1 provides the Board with the authority to adopt rules
and regulations necessary to carry out and implement the pro-
visions of the Texas Securities Act, including rules and regula-
tions governing registration statements and applications; defin-
ing terms; classifying securities, persons, and matters within its
jurisdiction; and prescribing different requirements for different
classes. Section 55.0041 of the Texas Occupations Code re-
quires a state agency that issues a license to adopt rules to im-
plement 55.0041 and authorizes a state agency to adopt rules
to provide for the issuance of a license to a military spouse to
whom the agency provides confirmation under subsection (b)(3)
of 55.0041.PROPOSED RULES September 17, 2021 46 TexReg 6011
Upcoming Pages
Here’s what’s next.
Search Inside
This issue can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Periodical.
Texas. Secretary of State. Texas Register, Volume 46, Number 38, Pages 5983-6306, September 17, 2021, periodical, September 17, 2021; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1385246/m1/29/: accessed July 17, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.