TITLE: Relating to certain provisions of The Securities Act for which a person offering or selling a security may be held liable to a person buying the security.

SUMMARY: Relating to certain provisions of The Securities Act for which a person offering or selling a security may be held liable to a person buying the security.

FULL TEXT:
AN ACT relating to certain provisions of The Securities Act for which a person offering or selling a security may be held liable to a person buying the security. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 4008.051(a), Government Code, is amended to read as follows: (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), [4003.002, 4003.003, or 4003.004; Subchapter B, Chapter 4003, other than Section 4003.054(b)(1); Subchapter C, Chapter 4003, other than Section 4003.103(b); Section 4004.001] 4004.051, 4004.052, 4004.101(a), [or] 4004.102(a),[;] or [Section] 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. SECTION 2. This Act takes effect January 1, 2022.