Tex. Gov't Code § 809.053 · Subchapter B. DUTIES REGARDING INVESTMENTS
ACTIONS RELATING TO LISTED FINANCIAL COMPANY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) For each listed financial company identified under Section 809.052, the state governmental entity shall send a written notice:
(1) informing the financial company of its status as a listed financial company;
(2) warning the financial company that it may become subject to divestment by state governmental entities after the expiration of the period described by Subsection (b); and
(3) offering the financial company the opportunity to clarify its activities related to companies described by Sections 809.001(1)(A) and (B).
(b) Not later than the 90th day after the date the financial company receives notice under Subsection (a), the financial company must cease boycotting energy companies in order to avoid qualifying for divestment by state governmental entities.
(c) If, during the time provided by Subsection (b), the financial company ceases boycotting energy companies, the comptroller shall remove the financial company from the list maintained under Section 809.051 and this chapter will no longer apply to the financial company unless it resumes boycotting energy companies.
(d) If, after the time provided by Subsection (b) expires, the financial company continues to boycott energy companies, the state governmental entity shall sell, redeem, divest, or withdraw all publicly traded securities of the financial company, except securities described by Section 809.055, according to the schedule provided by Section 809.054.
Notes and commentary — not statutory text
History
Added by Acts 2021, 87th Leg., R.S., Ch. 529 (S.B. 13), Sec. 1, eff. September 1, 2021.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.809.htm
- Text hash
- sha256 9b6cd4860addfdba267f5d8c10790b57e7dd20e4b6dbf2aa47068e14c012c248
- 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 § 809.001DEFINITIONS.Printed as Sections 809.001(1)(A)
- Tex. Gov't Code § 809.051LISTED FINANCIAL COMPANIES.Printed as Section 809.051
- Tex. Gov't Code § 809.052IDENTIFICATION OF INVESTMENT IN LISTED FINANCIAL COMPANIES.Printed as Section 809.052
- Tex. Gov't Code § 809.054DIVESTMENT OF ASSETS.Printed as Section 809.054
- Tex. Gov't Code § 809.055INVESTMENTS EXEMPTED FROM DIVESTMENT.Printed as Section 809.055
Cited by 1 provision
Provisions in this library whose text cites Tex. Gov't Code § 809.053. Each shows the citation as that text prints it.
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