Sec. 1371.154.  FINANCIAL ADVISER OR INVESTMENT ADVISER QUALIFICATIONS AND REQUIREMENTS FOR CERTAIN AGREEMENTS AND TRANSACTIONS.  (a)  This section applies to a financial adviser or an investment adviser who advises the issuer in connection with:
(1)  an interest rate management agreement;
(2)  the execution or delivery of a public security; or
(3)  the investment of the public security proceeds.
(b)  To be eligible to be a financial adviser or an investment adviser under this subchapter, the adviser must:
(1)  be registered:
(A)  as a dealer or investment adviser in accordance with Section 4004.051, 4004.052, or 4004.302;
(B)  with the United States Securities and Exchange Commission under the Investment Advisers Act of 1940 (15 U.S.C. Section 80b-1 et seq.), if the adviser is providing advice on the investment of bond proceeds and not on the issuance of a public security or an interest rate management agreement; or
(C)  with the United States Securities and Exchange Commission as a municipal advisor under Section 15B, Securities Exchange Act of 1934 (15 U.S.C. Section 78o-4);
(2)  have relevant experience in providing advice to issuers in connection with:
(A)  the issuance of public securities;
(B)  the valuation of interest rate management agreements; or
(C)  the investment of public security proceeds; and
(3)  acknowledge in writing to the issuer that in connection with the transaction for which the adviser is providing advice the adviser:
(A)  is acting as the issuer's agent; and
(B)  has complied with the requirements of this subchapter.
Added by Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 7, eff. September 1, 2007.
Amended by: 
Acts 2015, 84th Leg., R.S., Ch. 575 (H.B. 3132), Sec. 1, eff. September 1, 2015.
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.25, eff. January 1, 2022.