Sec. 1371.152. EXEMPTIONS. This subchapter does not apply to:
(1) an issuer who has more than $3 billion in outstanding obligations as of September 1, 2007, or to a nonprofit corporation investing funds on behalf of such an issuer;
(2) a person acting as a financial adviser with respect to an issuance of public securities by an issuer created under Chapter 8503, Special District Local Laws Code, delivered before January 1, 2010, under a contract that was in effect on September 1, 2007, and that has not been modified since that date;
(3) an employee of an issuer providing advice to the issuer or to another issuer;
(4) a state agency:
(A) created by Section 49-b, Article III, Texas Constitution; or
(B) the head of which is an officer in the executive department under Section 1, Article IV, Texas Constitution; or
(5) a corporation created under Chapter 505, Local Government Code, by a municipality located in a county bordering the Rio Grande River.
Added by Acts 2007, 80th Leg., R.S., Ch. 991 (S.B. 1332), Sec. 7, eff. September 1, 2007.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 87 (S.B. 1969), Sec. 11.015, eff. September 1, 2009.
Section: Previous 1371.057 1371.058 1371.059 1371.060 1371.061 1371.101 1371.102 1371.103 1371.104 1371.105 1371.106 1371.151 1371.152 1371.153 1371.154 NextLast modified: September 28, 2016