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Texas Government Code - GOV'T § 4008.051. Offeror or Seller Liability:  Registration and Related Violations

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

(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), 4004.051, 4004.052, 4004.101(a), 4004.102(a), or 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.

(b) The buyer of the security may sue for:

(1) rescission;  or

(2) damages if the buyer no longer owns the security.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 4008.051. Offeror or Seller Liability:  Registration and Related Violations - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-4008-051/

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