Texas Crowdfunding Portal Registration and Activities.
As we mentioned previously, an offering conducted under the crowdfunding exemption must be made exclusively through an Internet website operated by a registered general dealer or registered TCP.
Local Character. Just like crowdfunding issuers, a TCP must be an entity formed and authorized to do business in Texas. A TCP should be physically located in and operate exclusively within Texas. Moreover, a TCP must be engaged exclusively in intrastate offers and sales of securities in Texas and limit its activities to operating an Internet website utilized to offer and sell securities under the Texas crowdfunding exemption, without operating or facilitating a secondary market in securities.… Read the rest