§ 4001.067 — SALE; OFFER FOR SALE; SELL.

Texas § 4001.067

• Jurisdiction: Texas
• Code GV: Government Code

Text

Sec. 4001.067. SALE; OFFER FOR SALE; SELL. (a) "Sale," "offer for sale," and "sell" include every disposition or attempted disposition of a security for value.
(b) "Sale" means and includes:
(1) a contract or agreement in which a security is sold, traded, or exchanged for money, property, or another thing of value; or
(2) a transfer of or agreement to transfer a security, in trust or otherwise.
(c) "Sale" or "offer for sale" includes a subscription, an option for sale, a solicitation of sale, a solicitation of an offer to buy, an attempt to sell, or an offer to sell, directly or by an agent, by a circular, letter, or advertisement or otherwise, including the deposit in any manner in the United States mail within this state of a circular, letter, or other advertising matter.
(d) "Sell" means any act by which a sale is made.
(e) A security given or delivered with or as a bonus on account of a purchase of securities or other thing of value is conclusively presumed to:
(1) constitute a part of the subject of the purchase; and
(2) have been sold for value.
(f) The sale of a security under conditions that entitle the purchaser or subsequent holder to exchange the security for another security or to purchase another security is not deemed a sale or offer for sale of the other security.
(g) This section does not limit the meaning of the terms "sale," "offer for sale," or "sell" as used by or accepted in courts.

Legislative History

Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022.