Texas Statutes
Subchapter B. Civil Liability for Issuance, Sale, or Purchase of Securities
Section 4008.051. Offeror or Seller Liability: Registration and Related Violations

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.
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.

Structure Texas Statutes