Section 4008.062 - Statute Of Limitations(a) A person may not sue under Section 4008.051 or 4008.055 to the extent that section relates to Section 4008.051: (1) more than three years after the date of the sale;(2) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person: (A) rejected the offer in writing within 30 days of the date the person received the offer; and(B) expressly reserved in the rejection the right to sue; or(3) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058.(b) A person may not sue under Section 4008.052, 4008.054, or 4008.055 to the extent that section relates to Section 4008.052 or 4008.054: (1) more than three years after the date of discovery of the untruth or omission, or after the date discovery should have been made by the exercise of reasonable diligence;(2) more than five years after the date of the sale;(3) if the person received a rescission offer meeting the requirements of Section 4008.058 before suit, unless the person: (A) rejected the offer in writing within 30 days of the date the person received the offer; and(B) expressly reserved in the rejection the right to sue; or(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.058.(c) A person may not sue under Section 4008.053 or 4008.055 to the extent that section relates to Section 4008.053: (1) more than three years after the date of discovery of the untruth or omission, or after the date discovery should have been made by the exercise of reasonable diligence;(2) more than five years after the date of the purchase;(3) if the person received a rescission offer meeting the requirements of Section 4008.059 before suit, unless the person: (A) rejected the offer in writing within 30 days of the date the person received the offer; and(B) expressly reserved in the rejection the right to sue; or(4) more than one year after the date the person so rejected a rescission offer meeting the requirements of Section 4008.059. (V.A.C.S. Art. 581-33, Subsec. H.)Tex. Gov't. Code § 4008.062
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. TBD,Sec. 1.01, eff. 1/1/2022.