Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
(a) Except as required by this subtitle, 1 a credit union authorized to do business under this subtitle or the Federal Credit Union Act (12 U.S.C. Section 1751 et seq.) and an officer, employee, or agent of the credit union engaged in selling, issuing, or offering a security issued by a state or federal credit union are exempt from a law of this state to the extent the law provides for supervision, registration, or regulation in connection with selling, issuing, or offering a security.
(b) The sale, issuance, or offering of a security issued by a state or federal credit union is legal without any action or approval by any official, other than the credit union commissioner, who is authorized to license, regulate, or supervise the sale, issuance, or offering of securities.
(c) In this section, “security” has the meaning assigned by Section 4, The Securities Act (Article 581-4, Vernon's Texas Civil Statutes).
(c) In this section, “security” has the meaning assigned by Section 4001.068, Government Code.
Two general classes of electric lamps are recognized in these requirements, namely: Class 1, those that are self-contained and easily carried by hand, and class 2, those that may or may not be self-contained and not so readily portable as the first class.
(a) Class 1. Class 1 includes hand lamps, signal lamps, inspection lamps, flashlights, and animal lamps which are operated by small storage batteries or dry cells.
(b) Class 2. Class 2 includes lamps such as the pneumatic-electric types and large battery lamps.
Cite this article: FindLaw.com - Texas Finance Code - FIN § 149.002. Exemption from Securities Laws - last updated April 14, 2021 | https://codes.findlaw.com/tx/finance-code/fin-sect-149-002/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.