Tex. Gov't Code § 4003.303 · Subchapter G. PROTECTION FOR PURCHASERS OF SECURITIES
PROSPECTUS REQUIRED FOR CERTAIN OFFERS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) Except as provided by Subsection (b), the commissioner shall require that, in connection with a permit qualifying securities for sale, all offers for the sale of the securities be made through a prospectus that:
(1) fairly discloses the material facts about the plan of finance and business; and
(2) must be filed with and approved by the commissioner.
(b) The prospectus requirements of this section are satisfied if the applicant files a prospectus or offering circular with the commissioner that is also filed with the Securities and Exchange Commission under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) or the regulations under that law.
(c) Failure to comply with the prospectus requirements of this section violates this title.
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 1b712db6c302ecf03be86151bdfce07d5d900aff04bac68363ca0b8adb90ed66
- 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.