As one article notes, "The Texas State Securities Board, led by Commissioner John Morgan, is scheduled to meet August 27, 2014 to pass the new (crowdfunding) rules slated to go into effect the first of September." Another article states that "Texas as is now the 13th state to create its own equity crowdfunding rules and by-pass the JOBS Act. The U. S. SEC has not released or finalized the federal rules and some states see the billion dollar opportunity equity crowdfunding presents and they have decided to take the bull by the horn and jumpstart small business and economic development in their state. Section 3(a)(11) of the 33 Act exempts from registration any security that is part of an offering sold only to persons residing within a single state if the company is also doing business in that state. So, as long as a company complies with the federal intrastate exemption, it only needs to be concerned with the state’s crowdfunding rules when conducting a crowdfundin...
Things of relevance to crowdfunding, including events and news.