Tex. Gov't Code § 4005.013 · Subchapter A. EXEMPT TRANSACTIONS
COMPENSATION PLANS AND CONTRACTS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
The exemption provided by Section 4005.001 applies to the sale or distribution of a security without any public solicitation or advertisement if the sale or distribution is made:
(1) by an issuer of the security or any participating subsidiary of the issuer; and
(2) under a bona fide thrift, savings, stock purchase, retirement, pension, profit-sharing, option, bonus, appreciation right, incentive, or similar written compensation plan or written compensation contract established by the issuer or the issuer's subsidiary for the benefit of:
(A) employees, directors, general partners, managers, or officers of the issuer or subsidiary;
(B) the issuer's or subsidiary's trustees, if the issuer or subsidiary is a business trust; or
(C) consultants or advisers who provide to the issuer or subsidiary bona fide services unrelated to the offer or sale of securities in a capital-raising transaction.
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 ab438bf8ce7d14acc9173adb62015e666e71e3f26973e74e11c214be64d63c06
- 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
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