Tex. Gov't Code § 4008.057 · Subchapter B. CIVIL LIABILITY FOR ISSUANCE, SALE, OR PURCHASE OF SECURITIES
DAMAGES.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In damages under this subchapter, a buyer of a security shall recover the consideration the buyer paid for the security plus interest on the consideration at the legal rate from the date the buyer made the payment, less the greater of:
(1) the value of the security at the time the buyer disposed of the security plus the amount of any income the buyer received on the security; or
(2) the actual consideration received for the security at the time the buyer disposed of the security plus the amount of any income the buyer received on the security.
(b) In damages under this subchapter, a seller of a security shall recover the value of the security at the time of sale plus the amount of any income the buyer received on the security, less the consideration paid to the seller for the security plus interest on the consideration at the legal rate from the date of payment to the seller.
(c) For a buyer suing under Section 4008.054, the consideration the buyer paid for the security is deemed to be the lesser of:
(1) the price the buyer paid; or
(2) the price at which the security was offered to the public.
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.4008.htm
- Text hash
- sha256 e99acad7a6e61fa0a5047f985d0eb8dca0db9a99a2dee947a1796c16c471a03e
- 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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