(a) The Securities Commissioner, without notice, may inspect a registered dealer as necessary to ensure compliance with the Texas Securities Act and Board rules.     
      (b) The Commissioner or his or her authorized representative, during regular business hours, may:      
        (1) enter the business premises of a registered dealer; and       
        (2) examine and copy books and records pertinent to the inspection.       
      (c) During the inspection, the dealer shall:      
        (1) provide to the Commissioner or the Commissioner's authorized representative immediate and complete access to the person's office, place of business, files, safe, and any other location in which books and records pertinent to the inspection are located; and       
        (2) allow the Commissioner or the Commissioner's authorized representative to make photostatic or electronic copies of books or records subject to inspection.       
      (d) A dealer may not charge a fee for copying information under this section.     
      (e) The Commissioner or his or her authorized representative may require that all records required to be maintained pursuant to Board rules or maintained in the normal course of business of the dealer be made available in any office of the State Securities Board designated by the Commissioner or his or her representative within 48 hours of a request or within a greater time period as the Commissioner or his or her authorized representative deems reasonable.     
     Source Note:        The provisions of this §115.7 adopted to be effective August 12, 2001, 26 TexReg 5794; amended to be effective November 26, 2001, 26 TexReg 9581