Sec. 301.011. EXEMPTION FROM SECURITIES LAWS. (a) A sale, issuance, or offer for sale of an ownership interest in a professional entity to a person authorized under this title to own an ownership interest in the professional entity is exempt from any state law, other than this code, that regulates the sale, issuance, or offer for sale of securities.
(b) A transaction described by Subsection (a) does not require the approval of or other action by a state official or regulatory agency authorized to regulate the sale, issuance, or offer for sale of securities.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Title 7 - Professional Entities
Chapter 301 - Provisions Relating to Professional Entities
Section 301.001. Applicability of Title
Section 301.002. Conflicts of Law
Section 301.004. Authorized Person
Section 301.005. Application for Registration of Foreign Professional Entity
Section 301.006. License Required to Provide Professional Service
Section 301.007. Certain Requirements to Be Owner, Governing Person, or Officer
Section 301.009. Transfer of Ownership Interest