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STATE SECURITIES BOARD

STATE SECURITIES BOARD. The State Securities Board, composed of three gubernatorial appointees who serve overlapping six-year terms and are confirmed by the Senate, was established by the Securities Act of 1957. The board appoints a securities commissioner as its administrative officer. The main function of the agency is to regulate the sale of stocks, bonds, and other securities in Texas, as well as to license the persons and corporations selling such securities. The securities division of the office of the secretary of state, which administered the Securities Act of 1955, and the Division of the Board of Insurance Commissioners, which regulated insurance securities, were transferred to the State Securities Board. Appropriations were $2,832,003 in 1990, $2,867,761 in 1991, and $3,217,531 in 1992 and 1993. There were five divisions in 1992: Dealer Registration, Enforcement, General Counsel's Office, Securities Registration, and Staff Services.

Citation

The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.

"STATE SECURITIES BOARD," Handbook of Texas Online (http://www.tshaonline.org/handbook/online/articles/mds12), accessed July 23, 2014. Uploaded on June 15, 2010. Published by the Texas State Historical Association.