Tex. Gov't Code § 4008.051 · Subchapter B. CIVIL LIABILITY FOR ISSUANCE, SALE, OR PURCHASE OF SECURITIES
OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A person who offers or sells a security in violation of the following is liable to a person who buys the security from the offeror or seller:
(1) Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103;
(2) Subchapter G, Chapter 4003, other than Section 4003.304, or a requirement of the commissioner under Subchapter G, Chapter 4003, other than Section 4003.304; or
(3) an order under Section 4007.101 or 4007.104.
(b) The buyer of the security may sue for:
(1) rescission; or
(2) damages if the buyer no longer owns the security.
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.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280), Sec. 1, 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.4008.htm
- Text hash
- sha256 bb5c9c4eb0a7c482e55a53151a5e7775d4db457ce9058af666cb0359d3c91102
- 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.
Government Code
- Tex. Gov't Code § 4003.001PERMIT REQUIRED; EXCEPTIONS.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code ch. 4003, subch. GPROTECTION FOR PURCHASERS OF SECURITIESPrinted as Subchapter G, Chapter 4003
- Tex. Gov't Code § 4003.304INVESTOR EDUCATION.Printed as Section 4003.304
- Tex. Gov't Code § 4004.051REGISTRATION OF DEALERS REQUIRED.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code § 4004.052REGISTRATION OF INVESTMENT ADVISERS REQUIRED.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code § 4004.101REGISTRATION OF AGENTS.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code § 4004.102REGISTRATION OF INVESTMENT ADVISER REPRESENTATIVES.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code § 4007.101CEASE AND DESIST ORDER: OFFER OR SALE OF SECURITIES.Printed as Section 4007.101 or 4007.104
- Tex. Gov't Code § 4007.103CEASE PUBLICATION ORDER.Printed as Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103
- Tex. Gov't Code § 4007.104EMERGENCY CEASE AND DESIST ORDER.Printed as Section 4007.101 or 4007.104
Cited by 2 provisions
Provisions in this library whose text cites Tex. Gov't Code § 4008.051. Each shows the citation as that text prints it.
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.