Texas § 4003.204 AUTHORIZED ORAL OFFERS.

Texas Statutes

§ 4003.204 — AUTHORIZED ORAL OFFERS.

Texas § 4003.204

Code GVGovernment Code

This text of Texas § 4003.204 (AUTHORIZED ORAL OFFERS.) 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.

Bluebook

Tex. Government Code Code Ann. § 4003.204 (2026).

Text

Sec. 4003.204. AUTHORIZED ORAL OFFERS.

(a)In this section, "oral offer" means an offer that is not a broadcast offer.

(b)A person may make in this state an oral offer to sell a security in person, by telephone, or by other direct individual communication if:

(1)the person making the offer is a registered dealer or registered agent of a registered dealer;

(2)either:

(A)the security is registered under Subchapter B or C or the commissioner has issued a permit qualifying securities for sale for the security under Subchapter A; or

(B)an application for registration under Subchapter B or C or for a permit under Subchapter A has been filed with the commissioner;

(3)the person making or distributing the offer:

(A)has not received written notice of an order prohibiting the offer under Sect

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 4003.204. AUTHORIZED ORAL OFFERS. (a) In this section, "oral offer" means an offer that is not a broadcast offer.
(b) A person may make in this state an oral offer to sell a security in person, by telephone, or by other direct individual communication if:
(1) the person making the offer is a registered dealer or registered agent of a registered dealer;
(2) either:
(A) the security is registered under Subchapter B or C or the commissioner has issued a permit qualifying securities for sale for the security under Subchapter A; or
(B) an application for registration under Subchapter B or C or for a permit under Subchapter A has been filed with the commissioner;
(3) the person making or distributing the offer:
(A) has not received written notice of an order prohibiting the offer under Section 4007.101 or 4007.102 ; or
(B) has received notice of an order described by Paragraph (A) but the order is no longer in effect; and
(4) payment is not accepted from the offeree and no contract of sale is made before registration of the security is effective under Subchapter B or C or a permit is issued under Subchapter A.