Tex. Fin. Code Section 89.005
Exemption from Securities Laws


A savings account, certificate, or other evidence of an interest in the savings liability of an association or federal association is not considered a security under The Securities Act (Title 12, Government Code). A security of these associations, other than an interest in the savings liability of an association, is not subject to the registration requirements of that act. A person whose principal occupation is being an officer of an association is exempt from the registration and licensing provisions of that act with respect to that person’s participation in a sale or other transaction involving securities of the association of which the person is an officer.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.12, eff. January 1, 2022.

Source: Section 89.005 — Exemption from Securities Laws, https://statutes.­capitol.­texas.­gov/Docs/FI/htm/FI.­89.­htm#89.­005 (accessed Apr. 29, 2024).

Accessed:
Apr. 29, 2024

§ 89.005’s source at texas​.gov