Sec. 1202.003. REVIEW AND APPROVAL OF PUBLIC SECURITIES. (a) Before the issuance of a public security, the issuer shall submit the public security and the record of proceedings to the attorney general.
(b) If the attorney general finds that the public security has been authorized to be issued in conformity with law, the attorney general shall:
(1) approve the public security; and
(2) deliver to the comptroller:
(A) a copy of the attorney general's legal opinion stating that approval; and
(B) the record of proceedings.
(c) Unless exempted by Section 1202.007, the issuance of a public security except in compliance with this chapter is prohibited.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.
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