Tex. Gov't Code § 4005.005 · Subchapter A. EXEMPT TRANSACTIONS
INSURANCE COMPANY SALES.
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 made by or on behalf of an insurance company that:
(1) is subject to the supervision or control of the Texas Department of Insurance; and
(2) owns the security as a legal and bona fide investment.
(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 directly or indirectly for the benefit of another company.
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 8c47f02fee0162c6a0f691534fc07706f015ec15c6d4a7d30474777e26a5545c
- 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.