Tex. Gov't Code § 4005.010 · Subchapter A. EXEMPT TRANSACTIONS
EXCHANGE OF SHARES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to the corporation's stockholders in connection with:
(1) the change of par value stock to no par value stock or vice versa; or
(2) the exchange of outstanding shares for the same or a greater or smaller number of shares.
(b) The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corporation's securities held by the security holders at the time of the issuance or sale.
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 6e08d862c984e5667ce44a052b8a0a92c694eb07fd3448200d3cd2d20d3d8432
- 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.