Texas Finance Code - Section 89.005. Exemption From Securities Laws
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Texas Lawyer > Finance Code > Texas Finance Code - Section 89.005. Exemption From Securities Laws
§ 89.005. EXEMPTION FROM SECURITIES LAWS. A savings
account, certificate, or other evidence of an interest in the
savings liability of an association or federal association is not
considered a security under The Securities Act (Article 581-1 et
seq., Vernon's Texas Civil Statutes). A security of these
associations, other than an interest in the savings liability of an
association, is not subject to the registration requirements of
that act. A person whose principal occupation is being an officer
of an association is exempt from the registration and licensing
provisions of that act with respect to that person's participation
in a sale or other transaction involving securities of the
association of which the person is an officer.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 67.302 67.303 67.304 89.001 89.002 89.003 89.004 89.005 89.006 89.007 89.008 89.051 89.052 89.101 89.102
Last modified: August 10, 2007
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