Tex. Gov't Code § 4003.252 · Subchapter F. CROWDFUNDING
CROWDFUNDING.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall adopt rules to regulate and facilitate online intrastate crowdfunding applicable to authorized small business development entities. The board may create other requirements necessary to carry out this subchapter.
(b) The rules must:
(1) allow an authorized small business development entity to list on the entity's web portal offerings of securities by issuers in which the entity is financially interested;
(2) allow an authorized small business development entity and the entity's web portal to list offerings of securities without offering investment advice;
(3) allow an authorized small business development entity to subcontract the operations of a crowdfunding web portal to a third party as permitted by board rule; and
(4) limit the offerings of securities on an authorized small business development entity's web portal to securities of issuers located within the service area of the entity.
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 0057b87163f78505574601076273d647ca859571528e1dbf986809cf47735543
- 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.