Texas Business & Commerce Code - Section 41.161. Contents: Legal Action History
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Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 41.161. Contents: Legal Action History
§ 41.161. CONTENTS: LEGAL ACTION HISTORY. (a) A
disclosure statement must contain a statement disclosing which, if
any, of the persons described by Section 41.153:
(1) has, at any time during the previous seven fiscal
years:
(A) been convicted of a felony, or pleaded nolo
contendere to a felony charge, involving fraud, embezzlement,
fraudulent conversion, or misappropriation of property; or
(B) been held liable in a civil action resulting
in a final judgment, or settled out of court a civil action,
involving allegations of fraud, embezzlement, fraudulent
conversion, or misappropriation of property, the use of untrue or
misleading representations in an attempt to sell or dispose of
property, or the use of unfair, unlawful, or deceptive business
practices;
(2) is a party to a civil action involving allegations
of fraud, embezzlement, fraudulent conversion, or misappropriation
of property, the use of untrue or misleading representations in an
attempt to sell or dispose of property, or the use of unfair,
unlawful, or deceptive business practices; or
(3) is subject to an injunction or restrictive order
relating to business activity as a result of an action brought by a
public agency or department.
(b) A statement required by Subsection (a) must include:
(1) the identity and location of the court or agency;
(2) the date of conviction, judgment, or decision;
(3) the penalty imposed;
(4) the damages assessed;
(5) the terms of the settlement or order; and
(6) the date, nature, and issuer of each order or
ruling.
Added by Acts 1997, 75th Leg., ch. 1008, § 5, eff. Sept. 1, 1997.
Section: 41.154 41.155 41.156 41.157 41.158 41.159 41.160 41.161 41.162 41.163 41.201 41.202 41.203 41.251 41.252
Last modified: August 10, 2007
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