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Texas Business Organizations Code

§ 301.011 — EXEMPTION FROM SECURITIES LAWS

BO § 301.011Title 7. PROFESSIONAL ENTITIES · Ch. 301. PROVISIONS RELATING TO PROFESSIONAL ENTITIES

Statute text

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(a)A sale, issuance, or offer for sale of an ownership interest in a professional entity to a person authorized under this title to own an ownership interest in the professional entity is exempt from any state law, other than this code, that regulates the sale, issuance, or offer for sale of securities.
(b)A transaction described by Subsection (a) does not require the approval of or other action by a state official or regulatory agency authorized to regulate the sale, issuance, or offer for sale of securities.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 301.011 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.