Texas Utilities Code

§ 162.063 — EXEMPTION FROM APPLICATION OF SECURITIES ACT

UT § 162.063Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 162. TELEPHONE COOPERATIVE CORPORATIONS · Art. B. CREATION AND OPERATION OF TELEPHONE COOPERATIVES

Statute text

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The Securities Act (Title 12, Government Code) does not apply to:

(1)a note, bond, or other evidence of indebtedness issued by a telephone cooperative doing business in this state to the United States;

(2)an instrument executed to secure a debt of a telephone cooperative to the United States; or

(3)the issuance of a membership certificate by a telephone cooperative or a foreign corporation doing business in this state under this chapter. Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.43, eff. January 1, 2022.