reglab/housing_qa huggingface dataset:
TX Govt Code § 4007.106 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter C. Administrative Actions|Section 4007.106. Assessment of Administrative Fine

Sec. 4007.106.  ASSESSMENT OF ADMINISTRATIVE FINE.  (a)  In addition to any other remedies, the commissioner, after giving notice and opportunity for a hearing, may issue an order that assesses an administrative fine against a person or company found to have:(1)  engaged in fraud or a fraudulent practice in connection with:(A)  the offer for sale or sale of a security; or(B)  the rendering of services as an investment adviser or investment adviser representative;(2)  made an offer containing a statement that is materially misleading or is otherwise likely to deceive the public;(3)  engaged in an act or practice that violates this title or a board rule or order; or(4)  with intent to deceive or defraud or with reckless disregard for the truth or the law, materially aided any person in engaging in an act or practice described by Subdivision (1), (2), or (3).(b)  An administrative fine assessed under this section when added to the amount of any civil penalty previously awarded under Section 4007.154 must be in an amount that does not exceed:(1)  the greater of:(A)  $20,000 per violation; or(B)  the gross amount of any economic benefit gained by the person or company as a result of the act or practice for which the fine was assessed; and(2)  if the act or practice was committed against a person 65 years of age or older, an additional amount of not more than $250,000.(c)  For purposes of determining the amount of an administrative fine assessed under this section, the commissioner shall consider factors set out in guidelines established by the board.(d)  For purposes of private civil litigation, the payment of a fine assessed in an agreed order under this title does not constitute an admission of any misconduct described in the order.(e)  A proceeding for the assessment of an administrative fine must be commenced within five years after the violation occurs.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.107 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter C. Administrative Actions|Section 4007.107. Hearings on Certain Matters

Sec. 4007.107.  HEARINGS ON CERTAIN MATTERS.  (a)  A person or company may request a hearing to dispute the commissioner's:(1)  failure or refusal to:(A)  register and issue a certificate of registration for a dealer or investment adviser under Section 4004.054; or(B)  register and issue evidence of registration for an agent or investment adviser representative under Section 4004.104;(2)  issuance of an order under Section 4007.101, 4007.102, 4007.103, or 4007.104; or(3)  taking of an action in any other particular matter for which no other procedure is specified by this title.(b)  A hearing under Subsection (a) must be held before the commissioner or a hearings officer as required by law.(c)  On complaint by a person aggrieved by the denial of a permit qualifying securities for sale under Subchapter A, Chapter 4003, or by the failure or refusal to register securities under Subchapter B or C, Chapter 4003, the board or a hearings officer, as required by law, shall conduct a hearing.(d)  A hearing under this section is subject to Chapter 2001.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.108 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter C. Administrative Actions|Section 4007.108. Refund

Sec. 4007.108.  REFUND.  (a)  Subject to Subsection (b), the commissioner may order a dealer, agent, investment adviser, or investment adviser representative regulated under this title to pay a refund to a client or a purchaser of securities or services from the person or company as provided in an agreed order or an enforcement order instead of or in addition to imposing an administrative penalty or other sanctions.(b)  The amount of a refund ordered as provided in an agreed order or an enforcement order may not exceed the amount the client or purchaser paid to the dealer, agent, investment adviser, or investment adviser representative for a service or transaction regulated by the board. The commissioner may not require payment of other damages or estimate harm in a refund order.|Added by Acts 2021, 87th Leg., R.S., Ch. 915 (H.B. 3607), Sec. 9.109, eff. January 1, 2022.|
TX Govt Code § 4007.152 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter D. Civil Proceedings|Section 4007.152. Injunctive Relief

Sec. 4007.152.  INJUNCTIVE RELIEF.  (a)  The commissioner may request the attorney general to bring an action as provided by this section against a person or company if it appears to the commissioner, on complaint or otherwise, that the person or company:(1)  has engaged, is engaging, or is about to engage in fraud or a fraudulent practice in connection with the sale of a security;(2)  has engaged, is engaging, or is about to engage in fraud or a fraudulent practice in rendering services as an investment adviser or investment adviser representative;(3)  has made an offer containing a statement that is materially misleading or is otherwise likely to deceive the public; or(4)  has engaged, is engaging, or is about to engage in an act or practice that violates this title or a board rule or order.(b)  On the commissioner's request under Subsection (a), the attorney general, in addition to other remedies, may bring an action in the name and on behalf of the state:(1)  against:(A)  a person or company described by Subsection (a);(B)  any person who, with intent to deceive or defraud or with reckless disregard for the truth or the law, has materially aided, is materially aiding, or is about to materially aid the person or company; and(C)  any other person concerned with or in any manner participating in or about to participate in the acts or practices described by Subsection (a); and(2)  to enjoin the person or company and any other person described by Subdivision (1) from continuing the acts or practices that are the subject of the action for injunctive relief or from doing any act to further the acts or practices.(c)  The facts contained in an application for injunctive relief must be verified by the commissioner on information and belief.(d)  The attorney general may apply for and, on proper showing, is entitled to have a subpoena issued by the court that requires:(1)  the appearance, without delay, of a defendant and any employee or agent of the defendant to testify and give evidence concerning the acts, conduct, or other matters complained about in the application for injunctive relief; and(2)  the production of documents, books, and records that may be necessary for the hearing on the action.(e)  A district court in any county in which it is shown that the acts that are the subject of the application for injunctive relief have been or are about to be committed or a district court in Travis County has jurisdiction and venue of an action brought under this section.  This subsection is superior to any provision establishing jurisdiction or venue with regard to an action for an injunction.(f)  The commissioner or attorney general shall not be required to give a bond for injunction in an action brought under this section.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.153 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter D. Civil Proceedings|Section 4007.153. Equitable Relief and Restitution

Sec. 4007.153.  EQUITABLE RELIEF AND RESTITUTION.  (a)  On the commissioner's request, the attorney general may, in addition to other remedies, seek:(1)  equitable relief, including restitution, for a victim of a fraudulent practice; and(2)  the disgorgement of any economic benefit gained by a defendant through an act or practice that violates this title or for which this title provides the commissioner and attorney general with a remedy.(b)  The attorney general may seek the remedies described by Subsection (a) either in:(1)  an action under Section 4007.152; or(2)  a separate action brought in district court.(c)  The court may:(1)  grant any equitable relief the court considers appropriate; and(2)  order the defendant to deliver to each victim of an act or practice that violates this title, or for which this title provides the commissioner or the attorney general with a remedy, the amount of money or the property the defendant obtained from the victim, including any bonus, fee, commission, option, proceeds, or profit from or loss avoided through the sale of the security or through the rendering of services as an investment adviser or investment adviser representative, or any other tangible benefit.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.154 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter D. Civil Proceedings|Section 4007.154. Civil Penalty

Sec. 4007.154.  CIVIL PENALTY.  (a)  On the commissioner's request, the attorney general may, in addition to other remedies, seek a civil penalty to be paid to the state in an amount that, when added to the amount of any administrative fine previously assessed under Section 4007.106(b), does not exceed:(1)  the greater of:(A)  $20,000 per violation; or(B)  the gross amount of any economic benefit gained by the person or company as a result of the commission of the act or practice; and(2)  if the act or practice was committed against a person 65 years of age or older, an additional amount of not more than $250,000.(b)  The attorney general may seek a civil penalty under this section either in:(1)  an action under Section 4007.152; or(2)  a separate action in district court.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.155 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter D. Civil Proceedings|Section 4007.155. Recovery of Costs

Sec. 4007.155.  RECOVERY OF COSTS.  In an action brought under Section 4007.152, 4007.153, or 4007.154, the attorney general may recover reasonable costs and expenses incurred by the attorney general in bringing the action.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.201 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.201. Unauthorized Sale of Securities; Offense

Sec. 4007.201.  UNAUTHORIZED SALE OF SECURITIES; OFFENSE.  (a)  A person commits an offense if the person sells, offers for sale or delivery, solicits subscriptions to or orders for, disposes of, invites orders for, or deals in any other manner in a security issued after September 6, 1955, unless:(1)  the security has been registered under Subchapter B or C, Chapter 4003; or(2)  a permit qualifying securities for sale has been issued under Subchapter A, Chapter 4003, with respect to the security.(b)  A person commits an offense if the person sells, offers for sale or delivery, solicits subscriptions to or orders for, disposes of, invites offers for, or deals in any other manner in a security without being a registered dealer or registered agent as provided in this title.(c)  An offense under this section is a felony of the third degree.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.202 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.202. Unauthorized Rendering of Services as Investment Adviser or Investment Adviser Representative; Offense

Sec. 4007.202.  UNAUTHORIZED RENDERING OF SERVICES AS INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE; OFFENSE.  (a)  A person commits an offense if the person:(1)  renders services as an investment adviser or investment adviser representative; and(2)  is not registered as an investment adviser or investment adviser representative as required by this title.(b)  An offense under this section is a felony of the third degree.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.203 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.203. Fraudulent Conduct; Offense

Sec. 4007.203.  FRAUDULENT CONDUCT; OFFENSE.  (a)  A person commits an offense if:(1)  the person directly or indirectly:(A)  engages in any fraud or fraudulent practice;(B)  employs any device, scheme, or artifice to defraud;(C)  knowingly makes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading; or(D)  engages in any act, practice, or course of business that operates or will operate as a fraud or deceit on any person; and(2)  the applicable conduct is committed in connection with:(A)  the sale of, the offering for sale or delivery of, the purchase of, the offer to purchase, invitation of offers to purchase, invitations of offers to sell, or dealing in any other manner in any security, regardless of whether the transaction or security is exempt under Chapter 4005; or(B)  the rendering of services as an investment adviser or an investment adviser representative.(b)  An offense under this section is:(1)  a felony of the third degree, if the amount involved in the offense is less than $10,000;(2)  a felony of the second degree, if the amount involved in the offense is $10,000 or more but less than $100,000; or(3)  a felony of the first degree, if the amount involved is $100,000 or more.(c)  An indictment for an offense under this section may be brought only before the fifth anniversary of the date the offense was committed.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.204 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.204. Materially False Statement in Document or Proceeding; Offense

Sec. 4007.204.  MATERIALLY FALSE STATEMENT IN DOCUMENT OR PROCEEDING; OFFENSE.  (a)  A person commits an offense if the person knowingly makes or causes to be made any statement in a document filed with the commissioner or in a proceeding under this title that is, at the time and in light of the circumstances under which the statement is made, false or misleading in any material respect.(b)  An offense is established under this section regardless of whether the document or proceeding relates to a transaction or security that is exempt under Chapter 4005.(c)  An offense under this section is a felony of the third degree.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.205 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.205. False Statement or Representation Concerning Registration; Offense

Sec. 4007.205.  FALSE STATEMENT OR REPRESENTATION CONCERNING REGISTRATION; OFFENSE.  (a)  A person commits an offense if the person knowingly makes a false statement or representation concerning a registration made or an exemption claimed under this title.(b)  An offense under this section is a state jail felony.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.206 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.206. Violation of Cease and Desist Order; Offense

Sec. 4007.206.  VIOLATION OF CEASE AND DESIST ORDER; OFFENSE.  (a)  A person commits an offense if the person knowingly violates a cease and desist order issued by the commissioner under Section 4007.101, 4007.102, or 4007.104.(b)  An offense under this section is a felony of the third degree.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.207 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.207. Noncompliant Offer or Offer Prohibited by Cease Publication Order; Offense

Sec. 4007.207.  NONCOMPLIANT OFFER OR OFFER PROHIBITED BY CEASE PUBLICATION ORDER; OFFENSE.  (a)  A person commits an offense if the person:(1)  makes an offer of a security in this state that does not comply with the requirements governing offers specified in Subchapter E, Chapter 4003; or(2)  knowingly makes an offer of a security in this state that is prohibited by a cease publication order issued by the commissioner under Section 4007.103.(b)  An offense under this section is a state jail felony.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.208 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.208. Aggregation of Amounts

Sec. 4007.208.  AGGREGATION OF AMOUNTS.  When amounts are obtained in violation of this title pursuant to one scheme or continuing course of conduct, whether from the same or several sources, the conduct may be considered as one offense and the amounts aggregated in determining the grade of the offense.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4007.209 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4007 - Enforcement|Subchapter E. Criminal Provisions|Section 4007.209. Liability of Corporation

Sec. 4007.209.  LIABILITY OF CORPORATION.  (a)  In this section:(1)  "Association" and "corporation" have the meanings assigned by Section 1.07, Penal Code.(2)  "High managerial agent" has the meaning assigned by Section 7.21, Penal Code.(b)  If conduct constituting an offense under this subchapter is performed by an agent acting on behalf of a corporation or association and within the scope of the agent's office or employment, the corporation or association is criminally responsible for the offense only if the commission of the offense was authorized, requested, commanded, performed, or recklessly tolerated by:(1)  a majority of the governing board acting on behalf of the corporation or association; or(2)  a high managerial agent acting on behalf of the corporation or association and within the scope of the high managerial agent's office or employment.(c)  It is an affirmative defense to prosecution of a corporation or association under Subsection (b) that the high managerial agent having supervisory responsibility over the subject matter of the offense employed due diligence to prevent the commission of the offense.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4008.001 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4008 - Private Rights of Action|Subchapter A. General Provisions|Section 4008.001. Unenforceability of Illegal Contracts

Sec. 4008.001.  UNENFORCEABILITY OF ILLEGAL CONTRACTS.  A person may not base a suit on a contract if the person:(1)  made or engaged in the performance of the contract in violation of this title or a rule, order, or requirement under this title; or(2)  acquired any purported right under the contract with knowledge of the facts by reason of which the contract's making or performance was in violation of this title or a rule, order, or requirement 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 § 4008.002 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4008 - Private Rights of Action|Subchapter A. General Provisions|Section 4008.002. Certain Waivers Void

Sec. 4008.002.  CERTAIN WAIVERS VOID.  A condition, stipulation, or provision is void if it binds a buyer or seller of a security or a purchaser of services rendered by an investment adviser or investment adviser representative to waive compliance with this title or a rule, order, or requirement 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 § 4008.003 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4008 - Private Rights of Action|Subchapter A. General Provisions|Section 4008.003. Action for Collection of Commission or Compensation

Sec. 4008.003.  ACTION FOR COLLECTION OF COMMISSION OR COMPENSATION.  (a)  This section does not apply to a person or company that rendered services in connection with a transaction that is exempt under Subchapter A, Chapter 4005, or under a rule adopted by the board under Section 4005.024 if the person or company was not required to be registered by the terms of the exemption.(b)  A person or company may not bring or maintain any action in a court of this state for collection of a commission or compensation for services rendered in the sale or purchase of securities unless the person or company alleges and proves that:(1)  the person or company was:(A)  registered under this title; or(B)  exempt from registration under rules adopted under Section 4004.001; and(2)  the securities sold were registered under this title at the time the alleged cause of action arose.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|
TX Govt Code § 4008.004 (2021)
2021 Texas Statutes|Government Code|Title 12 - Securities Act|Chapter 4008 - Private Rights of Action|Subchapter A. General Provisions|Section 4008.004. Stay of Recognition or Enforcement of Foreign-Country Judgment

Sec. 4008.004.  STAY OF RECOGNITION OR ENFORCEMENT OF FOREIGN-COUNTRY JUDGMENT.  (a)  Before a court's recognition or enforcement of a foreign-country judgment under Chapter 36A, Civil Practice and Remedies Code, or otherwise, a party against whom recognition or enforcement of the foreign-country judgment is sought is entitled to de novo review by a court in this state to determine whether a party, or the party's successors, assigns, agents, or representatives seeking recognition or enforcement of the foreign-country judgment have violated this title or Chapter 17, Business & Commerce Code.(b)  A party seeking de novo review under this section must file with the court a verified pleading asserting a violation of this title or Chapter 17, Business & Commerce Code, not later than the 30th day after the date of service of the notice of filing of the foreign-country judgment with the court for recognition or enforcement.(c)  A pleading filed in accordance with Subsection (b) operates as a stay of the commencement or continuation of a proceeding to recognize or enforce the foreign-country judgment until the court completes its de novo review under this section and renders a final judgment.(d)  A finding by a court of a violation of this title or Chapter 17, Business & Commerce Code, is a sufficient ground for nonrecognition of a foreign-country judgment.(e)  This section applies to a foreign-country judgment involving a contract or agreement for a sale, offer for sale, or sell as defined by this title, or investment, that imposes an obligation of indemnification or liquidated damages on a resident of this state.|Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.|