Texas § 221.067 EXEMPT SECURITIES.

Texas Statutes

§ 221.067 — EXEMPT SECURITIES.

Texas § 221.067

Code HSHealth and Safety Code

This text of Texas § 221.067 (EXEMPT SECURITIES.) 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. Health and Safety Code Code Ann. § 221.067 (2026).

Text

Sec. 221.067. EXEMPT SECURITIES.

(a)Bonds issued under this chapter and any interest coupons are exempt securities under The Securities Act (Title 12, Government Code).

(b)If the bonds are secured by an agreement by a user to pay to the development corporation amounts sufficient to pay the principal of and interest and any redemption premium on the bonds, the agreement, for the purposes of The Securities Act (Title 12, Government Code), is a separate security issued to purchasers of the bonds by the user, and not by the corporation. The agreement is exempt from that Act only if:

(1)that Act exempts the agreement; or

(2)the bonds or the payments to be made under the agreement are guaranteed by any person and the guarantee is an exempt security under that Act.

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Sec. 221.067. EXEMPT SECURITIES. (a) Bonds issued under this chapter and any interest coupons are exempt securities under The Securities Act (Title 12, Government Code).
(b) If the bonds are secured by an agreement by a user to pay to the development corporation amounts sufficient to pay the principal of and interest and any redemption premium on the bonds, the agreement, for the purposes of The Securities Act (Title 12, Government Code), is a separate security issued to purchasers of the bonds by the user, and not by the corporation. The agreement is exempt from that Act only if:
(1) that Act exempts the agreement; or
(2) the bonds or the payments to be made under the agreement are guaranteed by any person and the guarantee is an exempt security under that Act.

Legislative History

Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989. Amended by: Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171 ), Sec. 2.28, eff. January 1, 2022.