Sec. 4005.053. NONPROFIT CORPORATIONS. The exemption provided by Section 4005.051 applies to a security issued and sold by a domestic corporation that:
(1) is not organized and engaged in business for profit; and
(2) does not have capital stock.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.
Structure Texas Statutes
Subchapter B. Exempt Securities
Section 4005.051. Scope of Exemption
Section 4005.052. Railroads or Utilities
Section 4005.053. Nonprofit Corporations
Section 4005.054. Listed Securities
Section 4005.055. Commercial Paper
Section 4005.056. Secured Debt
Section 4005.057. Nonprofit Debt
Section 4005.058. Suspension of Exempt Status of Trading System