reglab/housing_qa huggingface dataset:
TX Govt Code § 4004.356 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4004 - Regulation of Dealers, Investment Advisers, Dealers' Agents, and Investment Adviser Representatives|Subchapter H. Requirements for Protection of Vulnerable Adults From Financial Exploitation|Section 4004.356. Immunity

Sec. 4004.356.  IMMUNITY.  (a)  A securities professional or person serving in a legal capacity for a dealer or investment adviser who makes a notification under Section 4004.352(a), a dealer or investment adviser that submits a report under Section 4004.352(b) or makes a notification to a third party under Section 4004.354, or a securities professional or person serving in a legal capacity who or dealer or investment adviser that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the securities professional, person serving in a legal capacity for the dealer or investment adviser, or dealer or investment adviser acted in bad faith or with a malicious purpose.(b)  A dealer or investment adviser that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 4004.355(a)(1) is immune from civil or criminal liability or disciplinary action resulting from the action or failure to act.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4004.357 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4004 - Regulation of Dealers, Investment Advisers, Dealers' Agents, and Investment Adviser Representatives|Subchapter H. Requirements for Protection of Vulnerable Adults From Financial Exploitation|Section 4004.357. Records

Sec. 4004.357.  RECORDS.  To the extent permitted by state or federal law, a dealer or investment adviser, on request, shall provide access to or copies of records relevant to the suspected financial exploitation of a vulnerable adult to the commissioner, the department, a law enforcement agency, or a prosecuting attorney's office, either as part of a report to the commissioner, department, law enforcement agency, or prosecuting attorney's office or at the request of the commissioner, department, law enforcement agency, or prosecuting attorney's office in accordance with an investigation.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.001 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.001. Scope of Exemption

Sec. 4005.001.  SCOPE OF EXEMPTION.  Except as expressly provided otherwise in this title, this title does not apply to any sale of, offer for sale of, solicitation of, subscription to, dealing in, or delivery of a security made in a transaction or under a condition specified in this subchapter.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.002 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.002. Court Supervised Sales

Sec. 4005.002.  COURT SUPERVISED SALES.  The exemption provided by Section 4005.001 applies to the sale of a security made:(1)  at a judicial, executor's, administrator's, guardian's, or conservator's sale; or(2)  by a receiver or trustee in insolvency or bankruptcy.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.003 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.003. Pledged Securities

Sec. 4005.003.  PLEDGED SECURITIES.  The exemption provided by Section 4005.001 applies to the sale of a security pledged in good faith as security for a bona fide debt that is made by or for the account of a pledge holder or mortgagee that is selling the security or offering the security for sale or delivery in the ordinary course of business to liquidate the debt.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.004 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.004. Isolated Transactions

Sec. 4005.004.  ISOLATED TRANSACTIONS.  (a)  The exemption provided by Section 4005.001 applies to the sale of a security that is made by a vendor or on a vendor's behalf by a dealer or other agent and is made in the ordinary course of a bona fide personal investment of the vendor's personal holdings or a change in the investment if:(1)  the vendor is not engaged in the business of selling securities; and(2)  the sale is an isolated transaction not made in the course of repeated and consecutive transactions of a like character.(b)  A sale or offer for sale under Subsection (a) is not exempt from this title if the sale or offer is made or intended to be made by the vendor or the vendor's agent for the direct or indirect benefit of a company other than the individual vendor.  The usual commission of a vendor's agent is not a benefit for the purposes of this subsection.(c)  A person acting as an agent for a vendor in any sale or offer for sale under Subsection (a) must be registered under this title.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.005 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.005. Insurance Company Sales

Sec. 4005.005.  INSURANCE COMPANY SALES.  (a)  The exemption provided by Section 4005.001 applies to the sale of a security made by or on behalf of an insurance company that:(1)  is subject to the supervision or control of the Texas Department of Insurance; and(2)  owns the security as a legal and bona fide investment.(b)  A sale or offer for sale under Subsection (a) is not exempt from this title if the sale or offer is made or intended to be made directly or indirectly for the benefit of another company.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.006 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.006. Stock Dividends

Sec. 4005.006.  STOCK DIVIDENDS.  The exemption provided by Section 4005.001 applies to a distribution of securities by a corporation directly to the corporation's stockholders as a stock dividend or other distribution paid out of earnings or surplus.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.007 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.007. Existing Security Holders

Sec. 4005.007.  EXISTING SECURITY HOLDERS.  (a)  In this section, "existing security holder" includes a person who is a holder of a convertible security or nontransferable warrant at the time of the transaction.(b)  The exemption provided by Section 4005.001 applies to an offer by the issuer of its securities to the issuer's existing security holders and to any transaction pursuant to the offer if no commission or other remuneration, other than a stand-by commission, is paid or given directly or indirectly for soliciting any security holder in this state.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.008 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.008. Financial Distress

Sec. 4005.008.  FINANCIAL DISTRESS.  (a)  The exemption provided by Section 4005.001 applies to the issuance in good faith of securities by a company:(1)  to the company's security holders or creditors in the process of a bona fide reorganization of the company made in good faith; or(2)  to the security holders or creditors of a predecessor company if the issuing company is organized solely for the purpose of taking over the assets and continuing the business of the predecessor company.(b)  The exemption provided by Section 4005.001 applies to an issuance of securities described by Subsection (a) only if:(1)  the securities are issued in exchange for securities of the security holders, claims of the creditors, or both; and(2)  the security holders or creditors do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued other than the securities of or claims against the company or the company's predecessor held or owned by the security holders or creditors at the time of the issuance.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.009 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.009. Merger, Consolidation, and Asset Sales

Sec. 4005.009.  MERGER, CONSOLIDATION,  AND ASSET SALES.  (a)  The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to another corporation or to the security holders of the corporation pursuant to a vote by one or more classes of those security holders, as required by the certificate of formation, certificate of incorporation, or applicable corporation statute, in connection with:(1)  a merger;(2)  a consolidation; or(3)  a sale of corporate assets.(b)  The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corporation's securities held by the security holders at the time of the issuance or sale.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.010 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.010. Exchange of Shares

Sec. 4005.010.  EXCHANGE OF SHARES.  (a)  The exemption provided by Section 4005.001 applies to the issuance or sale of securities by one corporation to the corporation's stockholders in connection with:(1)  the change of par value stock to no par value stock or vice versa; or(2)  the exchange of outstanding shares for the same or a greater or smaller number of shares.(b)  The exemption provided by Section 4005.001 applies to an issuance or sale described by Subsection (a) only if the security holders do not pay, give, or promise any consideration, and are not obligated to pay or give any consideration, for the securities issued or sold other than the corporation's securities held by the security holders at the time of the issuance or sale.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.011 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.011. Institutional Investors

Sec. 4005.011.  INSTITUTIONAL INVESTORS.  The exemption provided by Section 4005.001 applies to the sale of a security to:(1)  a bank;(2)  a trust company;(3)  a building and loan association;(4)  a savings and loan association;(5)  an insurance company;(6)  a surety or guaranty company;(7)  a savings institution;(8)  an investment company as defined by the Investment Company Act of 1940 (15 U.S.C. Section 80a-1 et seq.);(9)  a small business investment company as defined by the Small Business Investment Act of 1958 (15 U.S.C. Section 661 et seq.); or(10)  a registered dealer actually engaged in buying and selling securities.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.012 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.012. Private Limited Offerings

Sec. 4005.012.  PRIVATE LIMITED OFFERINGS.  (a)  The exemption provided by Section 4005.001 applies to the following sales made without any public solicitation or advertisement:(1)  the sale of a security by the issuer of the security if the total number of security holders of the issuer does not exceed 35 persons after the sale; or(2)  the sale by an issuer of the issuer's securities to not more than 15 persons during the 12-month period ending with the date of the sale if the persons purchased the securities for their own account and not for distribution.(b)  For the purpose of determining the number of persons under Subsection (a)(2), the following persons are not included:(1)  a purchaser of a security in a transaction exempt under another provision of this subchapter;(2)  a purchaser of a security exempt under Subchapter B; and(3)  a purchaser of a security that is part of an offering registered under Subchapter A, B, or C, Chapter 4003.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.013 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.013. Compensation Plans and Contracts

Sec. 4005.013.  COMPENSATION PLANS AND CONTRACTS.  The exemption provided by Section 4005.001 applies to the sale or distribution of a security without any public solicitation or advertisement if the sale or distribution is made:(1)  by an issuer of the security or any participating subsidiary of the issuer; and(2)  under a bona fide thrift, savings, stock purchase, retirement, pension, profit-sharing, option, bonus, appreciation right, incentive, or similar written compensation plan or written compensation contract established by the issuer or the issuer's subsidiary for the benefit of:(A)  employees, directors, general partners, managers, or officers of the issuer or subsidiary;(B)  the issuer's or subsidiary's trustees, if the issuer or subsidiary is a business trust; or(C)  consultants or advisers who provide to the issuer or subsidiary bona fide services unrelated to the offer or sale of securities in a capital-raising transaction.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.014 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.014. Mortgages and Liens

Sec. 4005.014.  MORTGAGES AND LIENS.  The exemption provided by Section 4005.001 applies to a single transaction in which:(1)  the securities disposed of consist exclusively of notes or bonds secured by a mortgage or vendor's lien on real property or tangible personal property; and(2)  the entire mortgage or lien is sold or transferred with all of the notes or bonds secured by the mortgage or lien.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.015 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.015. Nonprofits

Sec. 4005.015.  NONPROFITS.  The exemption provided by Section 4005.001 applies to the disposition of a security or membership:(1)  issued by a corporation or association:(A)  that is organized exclusively for a religious, educational, benevolent, fraternal, charitable, or reformatory purpose;(B)  that is not organized for pecuniary profit; and(C)  for which no part of the net earnings inures to the benefit of any stockholder, shareholder, or individual member of the corporation or association; and(2)  for which no commission or remuneration is paid or given or is to be paid or given.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.016 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.016. Financial Institutions

Sec. 4005.016.  FINANCIAL INSTITUTIONS.  The exemption provided by Section 4005.001 applies to:(1)  the sale, by the issuer itself or by a registered dealer, of any security issued or guaranteed by:(A)  a bank organized and subject to regulation under the laws of:(i)  the United States; or(ii)  a state, territory, or insular possession of the United States; or(B)  a savings and loan association organized and subject to regulation under the laws of this state; or(2)  the sale, by the issuer itself, of any security issued by a federal savings and loan association.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.017 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.017. Government Issuance or Guarantee

Sec. 4005.017.  GOVERNMENT ISSUANCE OR GUARANTEE.  The exemption provided by Section 4005.001 applies to the sale, by the issuer itself or by a registered dealer, of any security either issued or guaranteed by:(1)  the United States;(2)  the District of Columbia, a state, territory, or insular possession of the United States;(3)  a political subdivision of a state of the United States, including a county, city, municipal corporation, district, and authority; or(4)  a public or governmental agency or instrumentality of an entity described by Subdivisions (1)-(3).|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.018 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.018. Cooperatives

Sec. 4005.018.  COOPERATIVES.  (a)  The exemption provided by Section 4005.001 applies to:(1)  the sale and issuance of:(A)  any securities issued by a farmers' cooperative marketing association organized under Chapter 52, Agriculture Code, or the predecessor of that law (Article 5737 et seq., Revised Statutes);(B)  any securities issued by a mutual loan corporation organized under Chapter 54, Agriculture Code, or the predecessor of that law (Article 2500 et seq., Revised Statutes); or(C)  any equity securities issued by a cooperative association organized under the Texas Cooperative Association Law as described by Section 1.008(i), Business Organizations Code, or the predecessor of that law (Article 1396-50.01, Vernon's Texas Civil Statutes); or(2)  the sale of any securities issued by a farmers' cooperative society organized under Chapter 51, Agriculture Code, or the predecessor of that law (Article 2514 et seq., Revised Statutes).(b)  The exemption provided by Section 4005.001 does not apply to an agent of a farmers' cooperative marketing association, mutual loan corporation, cooperative association, or farmers' cooperative society if the sale of the securities is made to:(1)  nonmembers; or(2)  members and a commission is paid or contracted to be paid to the agent.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.020 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.020. Unsolicited Orders

Sec. 4005.020.  UNSOLICITED ORDERS.  The exemption provided by Section 4005.001 applies to a dealer's execution of an unsolicited order for the purchase of securities for which the initial offering of the securities has been completed if the dealer:(1)  acts solely as an agent for the purchaser;(2)  does not have a direct or indirect interest in the sale or distribution of securities ordered; and(3)  does not receive a commission, profit, or other compensation from any source other than the purchaser.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.021 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.021. Oil, Gas, or Mining Interests

Sec. 4005.021.  OIL, GAS, OR MINING INTERESTS.  (a)  Subject to Subsection (b), the exemption provided by Section 4005.001 applies to the sales of interests in and under oil, gas, or mining leases, fees, or titles, or contracts relating to those interests in which:(1)  the total number of sales by any one owner of interests, whether whole, fractional, segregated, or undivided in any single oil, gas, or mineral lease, fee, or title, or contract relating to those interests, is not more than 35 during a 12 consecutive month period; and(2)  no use is made of advertisement or public solicitation.(b)  If a sale of an interest described by Subsection (a) is made for an owner of the interest by an agent of the owner, the exemption under that subsection applies only if the agent is registered under this title.(c)  An oil, gas, or mineral unitization or pooling agreement may not be considered a sale under this title.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.022 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.022. Issuer Sales of Exempt Securities

Sec. 4005.022.  ISSUER SALES OF EXEMPT SECURITIES.  (a)  The exemption provided by Section 4005.001 applies to the sale by the issuer itself or by a subsidiary of the issuer of any securities that would be exempt under Subchapter B if sold by a registered dealer.(b)  This section does not apply to securities that would be exempt under Section 4005.053.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4005.023 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4005 - Exemptions|Subchapter A. Exempt Transactions|Section 4005.023. Options

Sec. 4005.023.  OPTIONS.  (a)  In this section, "option" means and includes a put, call, straddle, or other option or privilege of buying from another person or selling to another person a specified number of securities at a specified price, without being obligated to do so, on or before a specified date. The term does not include an option or privilege that by its terms may terminate before the specified date on the occurrence of a specified event.(b)  The exemption provided by Section 4005.001 applies to a sale of an option by or through a registered dealer if, at the time of the sale:(1)  the performance of the terms of the option is guaranteed by a broker-dealer registered under the Securities Exchange Act of 1934 (15 U.S.C. Section 78a et seq.);(2)  the guaranty and broker-dealer described by Subdivision (1) are in compliance with any requirements or rules adopted or approved by the board;(3)  the option is not sold by or for the benefit of the issuer of the security that may be purchased or sold on exercise of the option;(4)  the security that may be purchased or sold on exercise of the option is either:(A)  exempted under Section 4005.054; or(B)  quoted on the NASDAQ stock market and meets the requirements of Sections 4005.019(b)(1), (6), (7), and (8); and(5)  the sale is not directly or indirectly for the purposes of providing or furthering a scheme to violate or evade this title.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|