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Texas Business & Commerce Code

§ 51.156 — CONTENTS: UPDATED FINANCIAL STATEMENT

BC § 51.156Title 4. BUSINESS OPPORTUNITIES AND AGREEMENTS · Ch. 51. BUSINESS OPPORTUNITIES · Art. D. DISCLOSURE STATEMENT

Statute text

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A disclosure statement must contain a copy of a financial statement of the seller that:
(1)was prepared according to generally accepted accounting principles within the previous 13 months; and
(2)has been updated to reflect any material change in the seller's financial condition. Amended by:

Legislative history

Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.

Source: Texas Business & Commerce Code § 51.156 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.