(a) The exemption provided by § 4005.051 applies to securities that at the time of sale:
(1) are fully listed on:
(A) the American Stock Exchange;
(B) the Boston Stock Exchange;
(C) the Chicago Stock Exchange;
(D) the New York Stock Exchange; or
(E) a recognized and responsible stock exchange approved by the commissioner, as provided by Subchapter C;
(2) are designated or approved for designation on notice of issuance on the national market system of the NASDAQ stock market; or
(3) are senior to, or if of the same issue, on a parity with, any securities listed or designated as described by Subdivision (1) or (2) or represented by subscription rights that are listed or designated as described by Subdivision (1) or (2), or evidence of indebtedness guaranteed by a company, any stock of which is listed or designated as described by Subdivision (1) or (2).
(b) Securities described by Subsection (a) are exempt only so long as the exchange on which the securities are listed remains approved under this section or Subchapter C.