Texas Finance Code - Section 33.005. Exemptions
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§ 33.005. EXEMPTIONS. The following acquisitions are
exempt from Section 33.001:
(1) an acquisition of securities in connection with
the exercise of a security interest or otherwise in full or partial
satisfaction of a debt previously contracted for in good faith and
the acquiring person files written notice of acquisition with the
banking commissioner before the person votes the securities
acquired;
(2) an acquisition of voting securities in any class
or series by a controlling person who has previously complied with
and received approval under this subchapter or who was identified
as a controlling person in a prior application filed with and
approved by the banking commissioner;
(3) an acquisition or transfer by operation of law,
will, or intestate succession and the acquiring person files
written notice of acquisition with the banking commissioner before
the person votes the securities acquired;
(4) a transaction subject to Chapter 202; and
(5) a transaction exempted by the banking commissioner
or by rules adopted under this subtitle because the transaction is
not within the purposes of this subchapter or the regulation of the
transaction is not necessary or appropriate to achieve the
objectives of this subchapter.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997. Amended
by Acts 1999, 76th Leg., ch. 344, § 2.011, eff. Sept. 1, 1999.
Section: 32.406 32.501 32.502 33.001 33.002 33.003 33.004 33.005 33.006 33.007 33.101 33.102 33.103 33.104 33.105
Last modified: August 10, 2007
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