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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Except as provided by Subsection (b), the commissioner shall require that, in connection with a permit qualifying securities for sale, all offers for the sale of the securities be made through a prospectus that:
(1) fairly discloses the material facts about the plan of finance and business; and
(2) must be filed with and approved by the commissioner.
(b) The prospectus requirements of this section are satisfied if the applicant files a prospectus or offering circular with the commissioner that is also filed with the Securities and Exchange Commission under the Securities Act of 1933 (15 U.S.C. Section 77a et seq.) or the regulations under that law.
(c) Failure to comply with the prospectus requirements of this section violates this title.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 4003.303. Prospectus Required for Certain Offers - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-4003-303/
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 before relying on it for your legal needs.
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