Tex. Bus. & Com. Code § 51.158 · Subchapter D. DISCLOSURE STATEMENT
CONTENTS: SECURITY DESCRIPTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
If the seller is required to obtain a bond or establish a trust account, the disclosure statement must contain one of the following statements, as applicable:
(1) "As required by Texas law, the seller has secured a bond issued by ______, a surety company authorized to do business in this state. Before signing a contract to purchase this business opportunity, you should confirm the bond's status with the surety company."; or
(2) "As required by Texas law, the seller has established a trust account with ______. Before signing a contract to purchase this business opportunity, you should confirm with the bank or savings institution the current status of the trust account."
Notes and commentary — not statutory text
History
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BC/htm/BC.51.htm
- Text hash
- sha256 98884c7d1d29a428034fda47255fbdc57ec6b068510fe0511ae2c12d5fd9a0bd
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.