By: Hancock  S.B. No. 1280
         (In the Senate - Filed March 9, 2021; March 18, 2021, read
  first time and referred to Committee on Business & Commerce;
  March 31, 2021, reported favorably by the following vote:  Yeas 9,
  Nays 0; March 31, 2021, sent to printer.)
Click here to see the committee vote
 
 
A BILL TO BE ENTITLED
 
AN ACT
 
  relating to certain provisions of The Securities Act for which a
  person offering or selling a security may be held liable to a person
  buying the security.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 4008.051(a), Government Code, is amended
  to read as follows:
         (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), [4003.002, 4003.003, or
  4003.004; Subchapter B, Chapter 4003, other than Section
  4003.054(b)(1); Subchapter C, Chapter 4003, other than Section
  4003.103(b); Section 4004.001,] 4004.051, 4004.052, 4004.101(a),
  [or] 4004.102(a), [;] or [Section] 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.
         SECTION 2.  This Act takes effect January 1, 2022.
 
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