Tex. Gov't Code § 4003.204 · Subchapter E. REGULATION OF OFFERS
AUTHORIZED ORAL OFFERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "oral offer" means an offer that is not a broadcast offer.
(b) A person may make in this state an oral offer to sell a security in person, by telephone, or by other direct individual communication if:
(1) the person making the offer is a registered dealer or registered agent of a registered dealer;
(2) either:
(A) the security is registered under Subchapter B or C or the commissioner has issued a permit qualifying securities for sale for the security under Subchapter A; or
(B) an application for registration under Subchapter B or C or for a permit under Subchapter A has been filed with the commissioner;
(3) the person making or distributing the offer:
(A) has not received written notice of an order prohibiting the offer under Section 4007.101 or 4007.102; or
(B) has received notice of an order described by Paragraph (A) but the order is no longer in effect; and
(4) payment is not accepted from the offeree and no contract of sale is made before registration of the security is effective under Subchapter B or C or a permit is issued under Subchapter A.
Notes and commentary — not statutory text
History
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4003.htm
- Text hash
- sha256 f76c0f3e98cf1c1b5702fd59b8e145036c399a3276a1da1b46324b0c843b888b
- 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
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