Tex.
Bus. & Com. Code Section 51.161
Contents: Legal Action History
(a)
A disclosure statement must contain a statement disclosing any person described by Section 51.153 (Contents: Names and Addresses) who:(1)
has, during the previous seven fiscal years:(A)
been convicted of a felony, or pleaded nolo contendere to a felony charge, involving fraud, embezzlement, fraudulent conversion, or misappropriation of property; or(B)
been held liable in a civil action resulting in a final judgment, or has settled out of court a civil action, involving:(i)
allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;(ii)
the use of untrue or misleading representations in an attempt to sell or dispose of property; or(iii)
the use of unfair, unlawful, or deceptive business practices;(2)
is a party to a civil action involving:(A)
allegations of fraud, embezzlement, fraudulent conversion, or misappropriation of property;(B)
the use of untrue or misleading representations in an attempt to sell or dispose of property; or(C)
the use of unfair, unlawful, or deceptive business practices; or(3)
is subject to an injunction or restrictive order relating to business activity as a result of an action brought by a public agency or department.(b)
A statement required by Subsection (a) must include:(1)
the identity and location of any court or agency;(2)
the date of any entry of a plea of nolo contendere, conviction, judgment, or decision;(3)
any penalty imposed;(4)
any damages assessed;(5)
the terms of any settlement or order; and(6)
the date, nature, and issuer of any order or ruling.
Source:
Section 51.161 — Contents: Legal Action History, https://statutes.capitol.texas.gov/Docs/BC/htm/BC.51.htm#51.161 (accessed Jun. 5, 2024).
