Tex.
Gov't Code Section 4003.203
Authorized Written, Printed, or Broadcast Offers
(1)
a copy of the offer is filed with the commissioner not later than the 10th day after the date of the offer’s first use in this state;(2)
the person making or distributing the offer is a registered dealer or registered agent of a registered dealer;(3)
either:(A)
the security is registered under Subchapter B or C or the commissioner has issued a permit qualifying securities for sale for the security under Subchapter A; or(B)
an application for registration under Subchapter B or C or for a permit under Subchapter A has been filed with the commissioner;(4)
for a registration for the security that has not become effective under Subchapter B or C or for a permit that has not been issued under Subchapter A, the offer prominently states on the first page of a written or printed offer or as a preface to any pictorial or broadcast offer either:(A)
"INFORMATIONAL ADVERTISING ONLY.(B)
other language required by the Securities and Exchange Commission that in the commissioner’s opinion will inform investors that the securities may not yet be sold;(5)
the person making or distributing the offer in this state:(A)
has not received written notice of an order prohibiting the offer under Section 4007.101 (Cease and Desist Order: Offer or Sale of Securities) or 4007.102 (Cease and Desist Order: Investment Adviser or Investment Adviser Representative); or(B)
has received notice of an order described by Paragraph (A) but the order is no longer in effect; and(6)
payment is not accepted from the offeree and no contract of sale is made before registration of the security is effective under Subchapter B or C or a permit is issued under Subchapter A.
Source:
Section 4003.203 — Authorized Written, Printed, or Broadcast Offers, https://statutes.capitol.texas.gov/Docs/GV/htm/GV.4003.htm#4003.203 (accessed Jun. 5, 2024).
