(a) Except as provided by Subsection (b), “investment adviser representative” includes a person or company who, for compensation, is employed, appointed, or authorized by an investment adviser to solicit clients for the investment adviser or who provides investment advice, directly or through subagents, as defined by board rule, to an investment adviser’s clients on behalf of the investment adviser.
(b) “Investment adviser representative” does not include a partner of a partnership or officer of a corporation or other entity that is registered as an investment adviser under this title solely because of the person’s status as a partner or officer of that entity.

Terms Used In Texas Government Code 4001.060

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Rule: includes regulation. See Texas Government Code 311.005
  Previous section
Next section  
 Subchapter B Contents