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Texas Government Code - GOV'T § 4008.003. Action for Collection of Commission or Compensation

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

(a) This section does not apply to a person or company that rendered services in connection with a transaction that is exempt under Subchapter A, Chapter 4005, or under a rule adopted by the board under Section 4005.024 if the person or company was not required to be registered by the terms of the exemption.

(b) A person or company may not bring or maintain any action in a court of this state for collection of a commission or compensation for services rendered in the sale or purchase of securities unless the person or company alleges and proves that:

(1) the person or company was:

(A) registered under this title;  or

(B) exempt from registration under rules adopted under Section 4004.001;  and

(2) the securities sold were registered under this title at the time the alleged cause of action arose.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 4008.003. Action for Collection of Commission or Compensation - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-4008-003/

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