Texas § 4008.051 OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.

Texas Statutes

§ 4008.051 — OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.

Texas § 4008.051

Code GVGovernment Code

This text of Texas § 4008.051 (OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.) 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. § 4008.051 (2026).

Text

Sec. 4008.051. OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS. Text of subsection as amended by Acts 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280 ), Sec. 1, eff. January 1, 2022.

(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.

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

Sec. 4008.051. OFFEROR OR SELLER LIABILITY: REGISTRATION AND RELATED VIOLATIONS.
Text of subsection as amended by Acts 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280 ), Sec. 1, eff. January 1, 2022.
(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.

Legislative History

Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 1.01, eff. January 1, 2022. Amended by: Acts 2021, 87th Leg., R.S., Ch. 41 (S.B. 1280 ), Sec. 1, eff. January 1, 2022.