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Texas Government Code - GOV'T § 4005.013. Compensation Plans and Contracts

Current as of January 01, 2024 | Updated by FindLaw Staff

The exemption provided by Section 4005.001 applies to the sale or distribution of a security without any public solicitation or advertisement if the sale or distribution is made:

(1) by an issuer of the security or any participating subsidiary of the issuer; and

(2) under a bona fide thrift, savings, stock purchase, retirement, pension, profit-sharing, option, bonus, appreciation right, incentive, or similar written compensation plan or written compensation contract established by the issuer or the issuer's subsidiary for the benefit of:

(A) employees, directors, general partners, managers, or officers of the issuer or subsidiary;

(B) the issuer's or subsidiary's trustees, if the issuer or subsidiary is a business trust; or

(C) consultants or advisers who provide to the issuer or subsidiary bona fide services unrelated to the offer or sale of securities in a capital-raising transaction.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 4005.013. Compensation Plans and Contracts - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-4005-013/

Read this complete Texas Government Code - GOV'T § 4005.013. Compensation Plans and Contracts on Westlaw

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