Texas § 2270.0124 SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN.

Texas Statutes

§ 2270.0124 — SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN.

Texas § 2270.0124

Code GVGovernment Code

This text of Texas § 2270.0124 (SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Tex. Government Code Code Ann. § 2270.0124 (2026).

Text

Sec. 2270.0124. SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN.

(a)Except as provided by Subsection (b), a company is a scrutinized company if:

(1)the company is organized under the laws of, is headquartered in, or has its principal place of business in the territory of a country of concern;

(2)the company is controlled by a country of concern, the government of a country of concern, the ruling political party of a country of concern, or the military of a country of concern; or

(3)the majority of stock or other ownership interest of the company is held or controlled by a country of concern or individuals who are citizens of a country of concern.

(b)A scrutinized company does not include a company that:

(1)is a U.S. person, as defined by 15 C.F.R. Section 772.1; or

(2)receives not mor

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Sec. 2270.0124. SCRUTINIZED COMPANIES IN COUNTRIES OF CONCERN. (a) Except as provided by Subsection (b), a company is a scrutinized company if:
(1) the company is organized under the laws of, is headquartered in, or has its principal place of business in the territory of a country of concern;
(2) the company is controlled by a country of concern, the government of a country of concern, the ruling political party of a country of concern, or the military of a country of concern; or
(3) the majority of stock or other ownership interest of the company is held or controlled by a country of concern or individuals who are citizens of a country of concern.
(b) A scrutinized company does not include a company that:
(1) is a U.S. person, as defined by 15 C.F.R. Section 772.1; or
(2) receives not more than 50 percent of its total annual global revenue from a country of concern, regardless of whether it has one or more subsidiaries or affiliates that are companies described by Subsection (a).
SUBCHAPTER D. GENERAL PROVISIONS RELATING TO INVESTMENTS IN CERTAIN FOREIGN TERRORIST ORGANIZATIONS