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AN ACT
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relating to certain provisions of The Securities Act for which a |
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person offering or selling a security may be held liable to a person |
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buying the security. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 4008.051(a), Government Code, is amended |
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to read as follows: |
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(a) A person who offers or sells a security in violation of |
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the following is liable to a person who buys the security from the |
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offeror or seller: |
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(1) Section 4003.001(a), [4003.002, 4003.003, or |
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4003.004; Subchapter B, Chapter 4003, other than Section |
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4003.054(b)(1); Subchapter C, Chapter 4003, other than Section |
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4003.103(b); Section 4004.001,] 4004.051, 4004.052, 4004.101(a), |
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[or] 4004.102(a), [;] or [Section] 4007.103; |
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(2) Subchapter G, Chapter 4003, other than Section |
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4003.304, or a requirement of the commissioner under Subchapter G, |
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Chapter 4003, other than Section 4003.304; or |
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(3) an order under Section 4007.101 or 4007.104. |
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SECTION 2. This Act takes effect January 1, 2022. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1280 passed the Senate on |
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April 9, 2021, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1280 passed the House on |
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April 30, 2021, by the following vote: Yeas 131, Nays 10, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |