Tex. Gov't Code § 4005.004 · Subchapter A. EXEMPT TRANSACTIONS
ISOLATED TRANSACTIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The exemption provided by Section 4005.001 applies to the sale of a security that is made by a vendor or on a vendor's behalf by a dealer or other agent and is made in the ordinary course of a bona fide personal investment of the vendor's personal holdings or a change in the investment if:
(1) the vendor is not engaged in the business of selling securities; and
(2) the sale is an isolated transaction not made in the course of repeated and consecutive transactions of a like character.
(b) A sale or offer for sale under Subsection (a) is not exempt from this title if the sale or offer is made or intended to be made by the vendor or the vendor's agent for the direct or indirect benefit of a company other than the individual vendor. The usual commission of a vendor's agent is not a benefit for the purposes of this subsection.
(c) A person acting as an agent for a vendor in any sale or offer for sale under Subsection (a) must be registered under 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.4005.htm
- Text hash
- sha256 1c917b6e53c559954abdd195878659e84f54ab79bbdf4b13e8defdd4ba96362c
- 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
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
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.