Section 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. (V.A.C.S. Art. 581-34.)Tex. Gov't. Code § 4008.003
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 1/1/2022.