Tex. Gov't Code § 4007.101 · Subchapter C. ADMINISTRATIVE ACTIONS
CEASE AND DESIST ORDER: OFFER OR SALE OF SECURITIES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The commissioner may hold a hearing as provided by this section if at any time it appears to the commissioner that the sale, proposed sale, or method of sale of securities, regardless of whether exempt:
(1) is a fraudulent practice;
(2) does not comply with this title;
(3) would tend to work a fraud on any purchaser of the securities; or
(4) would not be fair, just, or equitable to any purchaser of the securities.
(b) The commissioner may hold a hearing under this section on a date set by the commissioner that is not later than the 30th day after the date the issuer or registrant of the securities, the person on whose behalf the securities are being or will be offered, or any person that is acting as a dealer or agent in violation of this title, as applicable:
(1) receives actual notice; or
(2) is provided notice by registered or certified mail to the person's last known address.
(c) If the commissioner determines at the hearing that the sale, proposed sale, or method of sale of the securities is a fraudulent practice, does not comply with this title, would tend to work a fraud on any purchaser of the securities, or would not be fair, just, or equitable to any purchaser of the securities, the commissioner may issue a written cease and desist order:
(1) prohibiting or suspending the sale of the securities;
(2) denying or revoking the registration of the securities;
(3) prohibiting an unregistered person from acting as a dealer or agent; or
(4) prohibiting the fraudulent conduct.
(d) After the issuance of a cease and desist order under Subsection (c), a dealer or agent may not knowingly sell or offer for sale any security named in the order.
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.4007.htm
- Text hash
- sha256 5d247154f022671b05ad015355b50269d63937cd7bdf223b6cde65e4e5d47772
- 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
Cited by 5 provisions
Provisions in this library whose text cites Tex. Gov't Code § 4007.101. Each shows the citation as that text prints it.
Government Code
- Tex. Gov't Code § 4003.203AUTHORIZED WRITTEN, PRINTED, OR BROADCAST OFFERS.Printed as Section 4007.101 or 4007.102
- Tex. Gov't Code § 4003.204AUTHORIZED ORAL OFFERS.Printed as Section 4007.101 or 4007.102
- Tex. Gov't Code § 4007.107HEARINGS ON CERTAIN MATTERS.Printed as Section 4007.101, 4007.102, 4007.103, or 4007.104
- Tex. Gov't Code § 4007.206VIOLATION OF CEASE AND DESIST ORDER; OFFENSE.Printed as Section 4007.101, 4007.102, or 4007.104
- Tex. Gov't Code § 4008.051OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.Printed as Section 4007.101 or 4007.104
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.