Tex. Fin. Code § 89.005
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
A savings account, certificate, or other evidence of an interest in the savings liability of an association or federal association is not considered a security under The Securities Act (Title 12, Government Code) . A security of these associations, other than an interest in the savings liability of an association, is not subject to the registration requirements of that act. A person whose principal occupation is being an officer of an association is exempt from the registration and licensing provisions of that act with respect to that person's participation in a sale or other transaction involving securities of the association of which the person is an officer.
Tex. Fin. Code § 89.005