Tex. Gov't Code § 1202.007 · Chapter 1202. EXAMINATION AND REGISTRATION OF PUBLIC SECURITIES
EXEMPTIONS; CONSTRUCTION OF EXEMPTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The following are exempt from the approval and registration requirements of this chapter:
(1) a public security that is:
(A) not subject to mandatory renewal or renewal at the option of any person, including the issuer, a holder, or a bearer; and
(B) payable only out of:
(i) current revenues or taxes collected in the year the public security is issued; or
(ii) the proceeds of other public securities;
(2) a certificate in evidence of benefit assessments;
(3) a certificate of obligation, including a claim or account that represents an undivided interest in a certificate of obligation, that under Subchapter C, Chapter 271, Local Government Code, an issuer is authorized to deliver to a contractor;
(4) a time warrant issued under Chapter 252 or 262, Local Government Code;
(5) a public security authorized by Chapter 1371;
(6) a lease, lease-purchase, or installment sale obligation, except as provided by other law;
(7) a public security that by rule the attorney general exempts because it is not practical to require approval before the public security's issuance; and
(8) a nonnegotiable note issued under Section 45.108, Education Code, in a principal amount that does not exceed $1 million.
(b) The exemptions provided by Subsection (a) shall be narrowly construed.
(c) An issuer that issues a public security that is exempt under Subsection (a) may submit the public security to the attorney general as provided by this chapter.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.002, eff. Sept. 1, 2001.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 1018 (H.B. 2610), Sec. 3, eff. September 1, 2013.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.1202.htm
- Text hash
- sha256 9be67416e082b17cfb123e9cdb9c53d5cc4ee661d8c35f6b84989ede9fcdd226
- 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
This section cites
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Education Code
Government Code
Cited by 3 provisions
Provisions in this library whose text cites Tex. Gov't Code § 1202.007. Each shows the citation as that text prints it.
Government Code
Special District Local Laws Code
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