Tex. Gov't Code § 4003.151
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
If the sale of a security entitles the purchaser or subsequent holder to exchange that security for another, or to purchase another security, the sale of, including an exchange for, the other security may not be made unless the sale is authorized under this title, if not exempt under this title, or by another provision of law. (V.A.C.S. Art. 581-4, Subsec. E (part).)
Tex. Gov't. Code § 4003.151