Tex. Gov't Code § 4008.051

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 4008.051 - Offeror Or Seller Liability: Registration And Related Violations

(a) A person who offers or sells a security in violation of the following is liable to a person who buys the security from the offeror or seller:

(1) Section 4003.001(a), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 4007.103;

(2) Subchapter G, Chapter 4003, other than Section 4003.304, or a requirement of the commissioner under Subchapter G, Chapter 4003, other than Section 4003.304; or

(3) an order under Section 4007.101 or 4007.104.

(b) The buyer of the security may sue for:

(1) rescission; or

(2) damages if the buyer no longer owns the security. (V.A.C.S. Art. 581-33, Subsec. A, Subdiv. (1).)

Tex. Gov't. Code § 4008.051

Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 41,Sec. 1, eff. 1/1/2022.

Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 1/1/2022.