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Interpretive and Exemptive Letters

Texas State Securities Board's Interpretive and Exemption Letters from January 7, 1993 through March 5, 2012.

Grand Casinos, Inc., §6.F; §7; no action recommended, 10/20/1995

by Portal Admin — last modified Nov 15, 2022 09:42 PM
§6.F available for issuance of notes by an issuer listed on NYSE. No action recommended to require registration of guarantees of such notes by issuer’s subsidiaries. The subsidiary guarantees were unconditional, not separately tradable from the senior notes, and no separate consideration was required to receive such guarantees.
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Green Bay Packers, Inc., §7; §12; no action, 11/10/1997

by Portal Admin — last modified Nov 15, 2022 09:42 PM
No action recommended to require registration of the offer and sale of shares of the Green Bay Packers, Inc., a Wisconsin nonprofit corporation (the “Company”), to the general public. Because of provisions in the Company’s governing documents, the shares cannot receive dividends, are not transferable (except in limited circumstances), cannot be pledged, and cannot appreciate in value. Subscribers for the shares will be required to acknowledge no expectation of any economic benefit from the shares other than having a professional football team in Green Bay. The staff also recommended no action to require registration as dealers of the Company’s officers, directors, and employees who engage in activities for the offering, because they will not receive any commission or other remuneration for their activities.
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Green Bay Packers, §7; §12; no action recommended, 11/4/2011

by Portal Admin — last modified Nov 15, 2022 09:42 PM
No action recommended to require registration of new stock to be issued by Green Bay Packers, Inc. The shares could not be sold or transferred, could not be pledged or hypothecated, owners would receive no dividend, and the Green Bay Packers had a right of first refusal to reacquire the shares at a price that would be less than the issuance price.
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Grubb & Ellis Company, §5.R; §6.F, 5/6/1998

by Portal Admin — last modified Nov 15, 2022 09:42 PM
§6.F and §5.R available to exempt from securities and dealer registration the offering of options to purchase common stock of Grubb & Ellis Company (the “Company”), under a stock option plan of the Company, to a group of full-time consultants (who are not employees) in Texas. The Company’s common stock is listed and traded on the New York Stock Exchange, and the common stock to be issued upon exercise of the options is on a parity with the New York Stock Exchange-listed common stock.
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