Texas § 4008.101 INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE LIABILITY.

Texas Statutes

§ 4008.101 — INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE LIABILITY.

Texas § 4008.101

Code GVGovernment Code

This text of Texas § 4008.101 (INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE LIABILITY.) 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. § 4008.101 (2026).

Text

Sec. 4008.101. INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE LIABILITY.

(a)An investment adviser or investment adviser representative who renders services as an investment adviser in violation of Section 4004.052 or 4004.102 (a) or an order under Section 4007.102 or 4007.104 is liable to the purchaser, who may sue for damages in the amount of any consideration paid for the services.

(b)Except as provided by Subsection (c), an investment adviser or investment adviser representative who commits fraud or engages in a fraudulent practice in rendering services as an investment adviser is liable to the purchaser, who may sue for damages.

(c)An investment adviser or investment adviser representative who in rendering services as an investment adviser makes an untrue statement of a mat

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Sec. 4008.101. INVESTMENT ADVISER OR INVESTMENT ADVISER REPRESENTATIVE LIABILITY. (a) An investment adviser or investment adviser representative who renders services as an investment adviser in violation of Section 4004.052 or 4004.102 (a) or an order under Section 4007.102 or 4007.104 is liable to the purchaser, who may sue for damages in the amount of any consideration paid for the services.
(b) Except as provided by Subsection (c), an investment adviser or investment adviser representative who commits fraud or engages in a fraudulent practice in rendering services as an investment adviser is liable to the purchaser, who may sue for damages.
(c) An investment adviser or investment adviser representative who in rendering services as an investment adviser makes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statement made, in light of the circumstances under which the statement is made, not misleading is not liable under Subsection (b) if the adviser or representative proves:
(1) the purchaser knew of the truth or omission; or
(2) the adviser or representative did not know, and in the exercise of reasonable care could not have known, of the untruth or omission.