|(a) A company required to register its qualified investment products under art. 6228a-5, V.T.C.S., shall submit an application to register products and a registration fee to the retirement system in accordance with this chapter. (b) A qualified investment product that is offered to an employee on or after January 1, 2008, and that is, or is intended to be, the subject of a salary reduction agreement is required to be registered under this chapter unless excepted under §9(a)(8), Article 6228a-5, Texas Revised Civil Statutes. (c) A product that is the subject of a salary reduction agreement that is signed before January 1, 2008, is not required to be registered with respect to that salary reduction agreement. If a salary reduction agreement was signed before January 1, 2008, but only the amount of the contribution is changed by agreement of the employee and employer on or after January 1, 2008, the product that is the subject of the salary reduction agreement is not required to be registered with respect to that salary reduction agreement. A company or employee may demonstrate to the educational institution, in a manner deemed acceptable by the institution, that product registration is not required in order for the company to receive contributions to, or payments for purchase of, a qualified investment product that is the subject of the salary reduction agreement signed before January 1, 2008. (d) The retirement system shall permit a company to register products from November 1 through December 15 and from May 1 through June 15 each calendar year. (e) The executive director of the retirement system or his designee may establish the form and content of the registration application. (f) A company is required to certify to the retirement system as required by this chapter in order to apply to register products. A company may submit certification and application for product registration simultaneously.
|Source Note: The provisions of this §53.15 adopted to be effective October 29, 2007, 32 TexReg 7694; amended to be effective March 24, 2010, 35 TexReg 2312; amended to be effective January 11, 2011, 36 TexReg 54