Texas Business & Commerce Code

§ 51.003 — DEFINITION OF BUSINESS OPPORTUNITY

BC § 51.003Title 4. BUSINESS OPPORTUNITIES AND AGREEMENTS · Ch. 51. BUSINESS OPPORTUNITIES · Art. A. GENERAL PROVISIONS

Statute text

(a)In this chapter, "business opportunity" means a sale or lease for an initial consideration of more than $500 of products, equipment, supplies, or services that will be used by or for the purchaser to begin a business in which the seller represents that:

(1)the purchaser will earn or is likely to earn a profit in excess of the amount of the initial consideration the purchaser paid; and

(2)the seller will:

(A)provide a location or assist the purchaser in finding a location for the use or operation of the products, equipment, supplies, or services on premises that are not owned or leased by the purchaser or seller;

(B)provide a sales, production, or marketing program; or

(C)buy back or is likely to buy back products, equipment, or supplies purchased or products made, produced, grown, or bred by the purchaser using wholly or partly the products, equipment, supplies, or services that the seller initially sold or leased or offered for sale or lease to the purchaser.

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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 548 (S.B. 1701), Sec. 1, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 933 (H.B. 3097), Sec. 3A.01, eff. September 1, 2009.